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What is the balance of income from investment

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Question - On 1/1/2020, Co. X acquired 80% of the voting stock of Co. Y at a cost of $160,000. On December 31, 2020, the Investment in Co. Y account showed a balance of $185,000. The subsidiary's dividends for the year of 2020 were $20,000. The parent's share of amortized excess for the year of 2020 was $5,000. What is the balance of "Income from Investment in Co. Y" that appears in the parent's income statement for the year of 2020?

A-$46,000

B-$41,000

C-$36,000

D-$25,000

Reference no: EM133018677

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