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What amount would Matsui report in balance sheet

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Reference no: EM132502818

Question - Assume that, on January 1, 2018, Matsui Co. paid $2,273,600 for its investment in 78,400 shares of Yankee Inc. Further, assume that Yankee has 280,000 total shares of stock issued. The book value and fair value of Yankee's identifiable net assets were both $560,000 at January 1, 2018. The following information pertains to Yankee during 2018:

Net Income $280,000

Dividends declared and paid $84,000

Market price of common stock on 12/31/2018 $31/share

What amount would Matsui report in its year-end 2018 balance sheet for its investment in Yankee?

a. $2,637,600.

b. $2,357,600.

c. $2,328,480.

d. None of these answer choices are correct

Reference no: EM132502818

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