Question
The following events are for King Investment Inc.: 2020 Feb. 25 Purchased 195,100 shares of Jack Inc. common shares for $167,110. Jack has 975,500 common
The following events are for King Investment Inc.: 2020 Feb. 25 Purchased 195,100 shares of Jack Inc. common shares for $167,110. Jack has 975,500 common shares outstanding and has acknowledged the fact that its policies will be significantly influenced by King. Oct. 1 Jack declared and paid a cash dividend of $0.55 per share. Dec. 31 Jack announced that profit for the year amounted to $675,690. 2021 April 1 Jack declared and paid a cash dividend of $0.60 per share. Dec. 31 Jack announced that profit for the year amounted to $737,060. 31 King sold 80,580 shares of Jack for $85,810.
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