Monty Co. invested $920,000 in Flounder Co. for 25% of its outstanding stock. Flounder Co. pays out 40% of net income in dividends each year.Use the information in the following T-account for the investment in Flounder to answer the following questions. Investment in Flounder Co. 920,000    110,000       44,000 (a) How much was Monty Co.’s share of Flounder Co.’s net income for the year? (b) What was Flounder Co.’s total net income for the year? (c) What was Flounder Co.’s total dividends for the year? (d) How much was Monty Co.’s share of Flounder Co.’s dividends for the year?

Q: Starr Co. had sales revenue of $540,000 in 2020. Other items recorded during the year were: Cost…

A: Introduction Income statement is a summary of incomes and expenses to ascertain net profit.. Single…

Q: Griffin’s Goat Farm, Inc., has sales of $719,000, costs of $395,000, depreciation expense of…

A: Formulas: Net income = (Sales - Costs -Depreciation - Interest)*(1-Tax rate)…

Q: At the beginning of current year, Baket Company started business and issued share capital, 60,000…

A: GIVEN   At the beginning of the current year, Glasgow Company started business and issued share…

Q: Griffins Goat Farm, Inc., has sales of $681,000, costs of $343,000, depreciation expense of $87,000,…

A: Given information: Sales amounted to $681,000 Costs of $343,000 Depreciation expense is $87,000…

Q: Amanda Company has 40,000 shares of common stock outstanding. The book value per share of this stock…

A: The P/E ratio is the market price divided by the Earnings per Share (EPS).

Q: Electronics World Inc. paid out $24 million in total common dividends and reported $255.6 million of…

A: Net income is the income that is available for distribution of dividends and retained earnings. It…

Q: Electronics World Inc. paid out $41.5 million in total common dividends and reported $278.4 million…

A: Retained earnings means accumulated earnings of the business, which the business has earned over a…

Q: Griffins Goat Farm, Inc., has sales of $677,000, costs of $339,000, depreciation expense of $83,000,…

A: Earning per share is ratio of net income left for common share holders and the outstanding shares.…

Q: Griffins Goat Farm, Inc., has sales of $671,000, costs of $333,000, depreciation expense of $77,000,…

A: Total Dividend Paid  $   44,500.00  No. of Shares       28,000.00 Tax Rate 24% Sales…

Q: Bay Company holds 60,000 of Fay Company's 200,000 outstanding shares and 8,000 of Hay Company's…

A: Dividend: A dividend is a payment made by a firm to its shareholders in exchange for its earnings.…

Q: Sales for J. P. Hulett Inc. during the past year amounted to $4.0 million. Gross profits totaled…

A: Taxes on income: All corporations are required to pay taxes on their income.  The IRA has an…

Q: During 20X1, Blue Corporation sold products for $3,000,000 with the sales returns and allowances of…

A: Comprehensive income statement is the part of financial statement prepared to know the overall…

Q: Bonita Co. invested $910,000 in Windsor Co. for 25% of its outstanding stock. Windsor Co. pays out…

A: Dividend is paid on the outstanding stock.

Q: Builtrite had sales of $900,000 and COGS of $280,000. In addition, operating expenses were…

A: Formula: Taxable income = EBIT + Dividends + Net capital loss Sum of both EBIT , Dividends income…

Q: Makers Corp. had additions to retained earnings for the year just ended of $285,000. The firm paid…

A: Given the following information: Addition to retained earnings: $285,000 Total equity: $4,850,000…

Q: At the beginning of the current year, Wilson Corporation had 200,000 shares of 1$ par common stock…

A: Retained earnings: These are the residual earnings with the company that are used either for…

Q: What is the net income for the current year? During the year, Homo sold 100,000 shares with P20 par…

A: Net income for the current year This can be arrived using the Cash flow statement as follows:

Q: The following information relates to the Bondoc Corporation: Sales Revenue 9,000,000 Net assets,…

A: Amount of dividends paid during the year = Net assets, beginning of the year + Additional Investment…

Q: On January 1, Tasty Foods purchased 3,000 shares (30%) of Eco-Safe Packaging’s voting stock for $12…

A: Equity method of investment: It can be defined as the method that is used by the investors for…

Q: Parent Co. invested $1,000,000 in Sub Co. for 25% of its outstanding stock. Sub Co. pays out 40% of…

A:

Q: Reliable Corporation had sales of $61,122,248, cost of goods sold of $24,201,696, operating expenses…

A: Given: Reliable Corporation had sales of $60,257,593, cost of goods sold of $24,092,883, operating…

Q: In its most recent financial statements, Nessler Inc. reported $80 million of net income and $1,440…

A: Given that the net income in the current year is $80 millionRetained earnings in the current year is…

Q: Texas, Inc., sold common stock for $560,000 and preferred stock for $36,000 during the cur-rent…

A: The cash flows related to the company's operations are reported in operating activities. The cash…

Q: Reliable Auto Parts has 5,000 shares of common stock outstanding. The company also has the following…

A: cash flow from operations = net income + depreciation net income  = (85,000 - 50,000 - 7,500 -…

Q: Suppose Buyer Company in the problem above had invested $2,400 directly in Target’s common stock one…

A: Profit or loss means the excess value of holdings today above the cost incurred initially. The price…

Q: Burgos Co. declared dividends amounting to Php1.50 per share this year out of its Php500,000 net…

A: Given, Dividend per share = 1.50 Net Income = 500,000 Shareholders' equity = 2,500,000 Return on…

Q: The LD TV Corporation had taxable income of $815,000 this past year. Its cost of goods sold was $0.8…

A: Operating Income = Sales + Cost of goods sold + Operating expenses +Interest expenses - Interest…

Q: If the Marifield Steel Fabrication Company earned $539,000 in net income and paid a cash dividend…

A: earning per share formula: earning per share=net income-dividendnumber of shares outstanding

Q: Jackson Moving & Storage Co. paid $120,000 for 25% of the common stock ofMcDonough Co. at the…

A: Given information is: Jackson Moving & Storage Co. paid $120,000 for 25% of the common stock of…

Q: Riley Company paid cash dividends of P840,000 and reported net income of P2,170,000. The ordinary…

A: Book value of ordinary share is the the total ordinary shareholders equity plus net income less cash…

Q: In its most recent financial statements, Del-Castillo Inc. reported $35 million of net income and…

A: Dividend: It is the  distribution of profits  to its investors once  profit is earned by a…

Q: For the most recent year Camargo Inc., had sales of $556,000, cost of goods sold $248960,…

A:

Q: Cornerstone Corporation is a large construction company in Boston, Massachusetts. Their income…

A: Hello. Since your question has multiple parts, we will solve first question for you. If you want…

Q: New Mexico Lumber recently reported that its earnings per share were $3.00.  The company has 400,000…

A: EBIT stands for Earnings Before Interest and Taxes. It is a net income of company before deducting…

Q: During the year, the XYZ Company paid $300,000 in interest. The company is in the 25% tax bracket.…

A: Free cash flow for the company refers to the net amount available in the form of cash and cash…

Q: Grouper Co. invested $1,060,000 in Monty Co. for 25% of its outstanding stock. Monty Co. pays out…

A: Solution a:  Grouper Co.’s share of Monty Co.’s net income = Amount debited in Investment in monty…

Q: Bay Company holds 60,000 of Fay Company's 200,000 outstanding shares and 8,000 of Hay Company's…

A: Dividend: A dividend is a payment made by a firm to its shareholders in exchange for its earnings.…

Q: he accounting year / self capital at the beginning of the accounting year) of Xijiang in each…

A: Internal retention ratio is calculated as shown below. Internal retention ratio=Net…

Q: sidewinder, Inc., has sales of $678,000, costs of $339,000, depreciation expense of $84,000,…

A: Retained earnings refer to the part of the distributable profit that should not be distributed to…

Q: Empirana, Inc. earned P960,000.00 in a year. The management declared a dividend of P3.50 per share…

A: Addition to retained earnings = Net Income - Preferred Dividend - Common Stock Dividend

Q: A company has net earnings of AED 10,000 for the current vear and suppose the company maintains the…

A: In order to determine the earnings per share, the earnings available to equity shareholders are…

Q: Junior Berhad is a company that, during the year ended 31 December2020, paid RM25,000 debenture…

A: Profit of the business can be calculated by subtracting all the costs from the total sales revenue…

Q: Thelma and Louie, Inc. started the year with a balance of retained earnings of $545 million and…

A: O = Opening balance = $ 545 mnC = Closing balance = $ 590 mnTotal dividends paid = $35 million to…

Q: Griffins Goat Farm, Inc., has sales of $667,000, costs of $329,000, depreciation expense of $73,000,…

A: Earning per share indicates that how much money a company makes for each share. It is calculated by…

Q: Reliable Auto Parts has 5,000 shares of common stock outstanding. The company also has the following…

A: Since you have asked a question with multiple parts, we will solve the first 3 parts for you. Please…

Q: A company's total owner's equity at the start of the year was P400,000. The company produced a net…

A: Debt seems to be something, usually money, borrowed by one party from another. Many businesses and…

Q: company reported earnings available to common shareholders as $4,200,000 last year. From those…

A: Cost of preferred stock is the return which the preference shareholders expect on their investments.…