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Problem 1: ACo owns 10% of the outstanding shares of BCo. ACo has no influence on BCo. BCo's shares do not have readily available market values. Therefore, ACo should account for its investment using the cost method. BCo is profitable and has NOT declared all of its profits as dividends. If ACo had used the equity method instead of the cost method, what effect would it have on ACo's financial statements? [Assume dividends received are treated as operating cash inflows.]
a. The book value of ACo's investment in BCo would have been lower and ACo would have shown lower retained earnings. ACo's operating cash flow would have been lower.b. The book value of ACo's investment in BCo would have been higher and ACo would have shown higher retained earnings. ACo's operating cash flow would have been higher.c. The book value of ACo's investment in BCo would have been higher and ACo would have shown higher retained earnings. However, ACo's operating cash flow would NOT have been affected.d. None of the above.
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