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What amount should have been shown for equity in subsidiary

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Problem 1: Scott co paid 2,800,000 to acquire all of the common stock of dawn corp on january 1, 2020. Dawns reported earnings for 2020 totaled $512,000 and it paid $160,000 in dividends during the year. The amortization of allocations related to the investment was $28,000. Scott's net income, not including the investment was $3,310,000, and it paid dividends of $950,000. On the consolidated financial statements for 2020, what amount should have been shown for the equity in subsidiary earnings?

Reference no: EM132814915

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