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How much income would abc report from its investment

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Problem - ABC Co. purchased 30% of the shares of XYZ Co. on January 1, 2017, for $150,000. For the year ended December 31, 2017, XYZ reported net income of $180,000 and paid dividends of $120,000.

Assuming that ABC's 30% investment in XYZ did not allow it to exercise significant influence, how much income would ABC report from its investment in XYZ for the year ended December 31, 2017?

Reference no: EM132980854

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