Sheridan Co. invested $980,000 in Skysong Co. for 25% of its outstanding stock. Skysong Co. pays out 30% of net income in dividends each year. Use the information in the following T-account for the investment in Skysong to answer the following questions.

Investment in Skysong Co.
980,000
113,000
	33,900

(a) How much was Sheridan Co.s share of Skysong Co.s net income for the year?

Net income

(b) What was Skysong Co.s total net income for the year?

Total net income

(c) What was Skysong Co.s total dividends for the year?

Total Dividends

(d) How much was Sheridan Co.s share of Skysong Co.s dividends for the year?

Dividends