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Whispering Co. invested $1,060,000 in Metlock Co. for 25% of its outstanding stock. Metlock Co. pays out 40% of net income in dividends each year.
Whispering Co. invested $1,060,000 in Metlock Co. for 25% of its outstanding stock. Metlock Co. pays out 40% of net income in dividends each year. Use the information in the following T-account for the investment in Metlock to answer the following questions. Investment in Metlock Co. 1,060,000 105,000 42,000 (a) How much was Whispering Co's share of Metlock Co.'s net income for the year? Net income $ (b) What was Metlock Co.'s total net income for the year? Total net income $ (c) What was Metlock Co.'s total dividends for the year? Total Dividends $ (d) How much was Whispering Co.'s share of Metlock Co.'s dividends for the year? Dividends $
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