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What amount of equity income would anderson recognize

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Question - On January 1, 2011, Anderson Company purchased 40% of the voting common stock of Barney Company for $2,000,000, which approximated book value. During 2011, Barney paid dividends of $30,000 and reported a net loss of $70,000.

What amount of equity income would Anderson recognize in 2011 from its ownership interest in Barney?

A. $12,000 income

B. $12,000 loss

C. $16000 loss

D. $28000 income

E. $28,000 loss (correct)

Reference no: EM132005332

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