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Waterway Co. invested $940,000 in Wildhorse Co. for 25% of its outstanding stock. Wildhorse Co. pays out 40% of net income in dividends each year.

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Waterway Co. invested $940,000 in Wildhorse Co. for 25% of its outstanding stock. Wildhorse Co. pays out 40% of net income in dividends each year. Use the information in the following T-account for the investment in Wildhorse to answer the following questions. Investment in Wildhorse Co. 940,000 105,000 42,000 (a) How much was Waterway Co's share of Wildhorse Co's net income for the year? Net income $ (b) What was Wildhorse Co s total net income for the year? Total net income $ $ (c) What was Wildhorse Co's total dividends for the year? Total Dividends $ (d) How much was Waterway Co's share of Wildhorse Co's dividends for the year? Dividends $ HA

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