Illustrate what formula/steps do it take

Assignment Help Financial Accounting

Reference no: EM13127220

Young Co. acquired a 60% interest in Tomlin Corp. on December 31, 2003 for $630,000. During 2004, Tomlin had net income of $400,000 and paid cash dividends of $100,000. At December 31, 2004, the balance in the investment account should be $810,000.

What formula/steps do I take to get $810,000?

Reference no: EM13127220

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