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What amount should wildhorse include in its income statement

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Question - Wildhorse, Inc. acquired 20% of Blossom Corporation's voting stock on January 1, 2021 for $1090000. During 2021, Blossom earned $427000 and paid dividends of $268000. Wildhorse's 20% interest in Blossom gives Wildhorse the ability to exercise significant influence over Blossom's operating and financial policies. During 2022, Blossom earned $527000 and paid cash dividends of $168000 on April 1 and $168000 on October 1. On July 1, 2022, Wildhorse sold half of its stock in Blossom for $687000 cash. Before income taxes, what amount should Wildhorse include in its 2021 income statement as a result of the investment?

Reference no: EM133137333

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