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How much is the investment in S Corp at December

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Question - P Corp acquired 60,000 shares of its 75,000 outstanding ordinary shares of S. Corp for $2,625,000 on January 1, 20x1. S. Corp reported net income of $1,125,000 for 20x1 and $1,500,000 for 20x2. The next income is earned evenly throughout the year. P Corp. received $300,000 dividend from S Corp. in 20x1 and $450,000 in 20x2. Using the EQUITY METHOD, how much is the investment in S Corp. at December 31, 20x2?

Reference no: EM132918079

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