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What ramsey share of vapor income is

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Reference no: EM132751155

Problem 1: On January 1, 2019, Ramsey Company purchased 35% of the outstanding common shares of the Vapor Company for £70,000 when the net assets were £200,000. During 2019, Vapor Company earned £80,000 and declared a dividend of £40,000. Ramsey accounted for the investment using the equity method. Ramsey's share of Vapor's income for 2019 is:

a. £14,000.
b. £28,000.
c. £42,000.
d. £40,000.
e. £30,000

Reference no: EM132751155

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