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What is the minimum percentage that parent company must own

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Question: 1. Griffin Corporation owns 45% of an equity method investment in Watson Company. The balance in the Investment in Watson account at the beginning of the year was $500,000. During the year, Watson earned income of $60,000 and distributed dividends of $10,000. Calculate the amount of investment income reported by Griffin.

2. What is the minimum percentage that a parent company must own of a subsidiary's stock in order to present consolidated financial statements?

Reference no: EM132761566

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