What does cosmos corporation report on its balance sheet

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Reference no: EM133372201

Question: Cosmos Corporation makes an equity-method investment in Laurel Inc. at a purchase price of $4.42 million cash, representing 40% (at book value) of Laurel Inc. During the year, Laurel reports net income of $5,280,500 and Cosmos receives $877,500 of cash dividends from Laurel. At the end of the year, the market value of Cosmos's investment is $4.03 million.
At year end, what does Cosmos Corporation report on its balance sheet for its investment in Laurel Inc.?

Reference no: EM133372201

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