On january 2 2013 pod company purchased 25 of the

Reference no: EM13601091

On January 2, 2013, Pod Company purchased 25% of the outstanding common stock of Jobs, Inc. and subsequently used the equity method to account for the investment. During 2013, Jobs, Inc. reported net income of $630,000 and distributed dividends of $270,000. The ending balance in the investment in Pod Company account December 31, 2013, was $480,000 after applying the equity method during 2013. What was the purchase price Pod Company paid for its investment in Jobs, Inc.?

Reference no: EM13601091

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