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-Your answer is partially correct. Novak Co. invested $920,000 in Splish Co. for 25% of its outstanding stock. Splish Co. pays out 30% of
-Your answer is partially correct. Novak Co. invested $920,000 in Splish Co. for 25% of its outstanding stock. Splish Co. pays out 30% of net income in dividends each year. Use the information in the following T-account for the investment in Splish to answer the following questions. Investment in Splish Co. 920,000 99,000 29,700 D (a) How much was Novak Co's share of Splish Co's net income for the year? Net income $ 99000 (b) What was Splish Co's total net income for the year?
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Applying International Financial Reporting Standards
Authors: Keith Alfredson, Ken Leo, Ruth Picker, Paul Pacter, Jennie Radford Victoria Wise
3rd edition
730302121, 978-0730302124
