Unit IV Lab Assignment Question 3 of 20 < -15 *** Presented below are two independent...

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Unit IV Lab Assignment Question 3 of 20 < -15 *** Presented below are two independent situations. 1. Splish Brothers Cosmetics acquired 10% of the 232,000 shares of common stock of Chy Fashion at a total cost of $12 per share on March 18, 2020. On June 30, Chy declared and paid a $58,000 dividend. On December 31, Chy reported net income of $127,600 for the year. At December 31, the market price of Chy Fashion was $15 per share. Unit IV Lab Assignment Question 3 of 20 < -15 *** Presented below are two independent situations. 1. Splish Brothers Cosmetics acquired 10% of the 232,000 shares of common stock of Chy Fashion at a total cost of $12 per share on March 18, 2020. On June 30, Chy declared and paid a $58,000 dividend. On December 31, Chy reported net income of $127,600 for the year. At December 31, the market price of Chy Fashion was $15 per share.