Business, 15.11.2019 00:31 teana58

Indianapolis corporation makes an equity-method investment in richmond inc. at a purchase price of $4.42 million cash, representing 30% (at book value) of richmond inc. during the year, richmond reports net income of $5,280,500 and indianapolis receives $877,500 of cash dividends from richmond. at the end of the year, the market value of indianapolis’s investment is $4.03 million. at year end, what does indianapolis corporation report on its balance sheet for its investment in richmond inc.? a. $5,126,650 b. $4,420,000 c. $5,740,900 d. $5,280,500 e. none of the above

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Indianapolis corporation makes an equity-method investment in richmond inc. at a purchase price of $...

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