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Sweet Co. invested $1,090,000 in Pharoah Co. for 25% of its outstanding stock. Pharoah Co. pays out 40% of net income in dividends each year.
Sweet Co. invested $1,090,000 in Pharoah Co. for 25% of its outstanding stock. Pharoah Co. pays out 40% of net income in dividends each year. Use the information in the following T-account for the investment in Pharoah to answer the following questions. Investment in Pharoah Co. 1,090,000 102,000 40,800 (a) How much was Sweet Co.'s share of Pharoah Co.'s net income for the year? Net income $ (b) What was Pharoah Co.'s total net income for the year? Total net income $ (c) What was Pharoah Co.'s total dividends for the year? Total Dividends $ (d) How much was Sweet Co.'s share of Pharoah Co.'s dividends for the year? Dividends $
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