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Sox Corporation purchased a 30% interest in Hack Corporation for $1,625,000 on January 1, 2021. On November 1, 2021, Hack declared and paid $1.5 million
Sox Corporation purchased a 30% interest in Hack Corporation for $1,625,000 on January 1, 2021. On November 1, 2021, Hack declared and paid $1.5 million in dividends. On December 31, Hack reported a net loss of $5.1 million for the year. What amount of loss should Sox report on its income statement for 2021 relative to its investment in Hack?
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