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What was Pronghorn Co total dividends for the year

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Question - Sage Co. invested $920,000 in Pronghorn Co. for 25% of its outstanding stock. Pronghorn Co. pays out 30% of net income in dividends each year.

Use the information in the following T-account for the investment in Pronghorn to answer the following questions.

Investment in Pronghorn Co. 920,000 99,000 29,700

Required -

(a) How much was Sage Co.'s share of Pronghorn Co.'s net income for the year?

(b) What was Pronghorn Co.'s total net income for the year?

(c) What was Pronghorn Co.'s total dividends for the year?

(d) How much was Sage Co.'s share of Pronghorn Co.'s dividends for the year?

Reference no: EM132681492

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