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What was the end of year balance in investment in little

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Question - On 1/1/22 Big Co acquired 70% of Little Co voting stock for $350,000.  The fair value of the NC Interest was $150,000 on that date.  Little's book value was $500,000, and all assets and liabilities had fair values equal to book value.

During 2022, Little reported earnings of $50,000 and paid dividends of $30,000.

What is big's investment income (income from little) for 2022?

What was the income to the NC interest for 2022?

After recording the equity method entries for the year, what was the end of year balance in the "Investment in Little" reported on Big's ledger?

What was value of the NC Interest ("NCI in NA of Little") reported on the 12/31/22 Consolidated Balance Sheet?

Reference no: EM133106035

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