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How much did Miller pay for its interest in Wall

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Question - On January 1, Year 2, Miller Company purchased 25% of Wall Corporation's common stock; no goodwill resulted from the purchase. Miller uses the equity method to account for this investment, and the balance in Miller's investment account was $190,000 at December 31, Year 2. Wall reported net income of $120,000 for the year ended December 31, Year 2, and paid common stock dividends totaling $48,000 during Year 2. How much did Miller pay for its 25% interest in Wall?

a. $232,000

b. $172,000

c. $202,000

d. $208,000

Reference no: EM132722996

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