Apple Company purchased 42% of Orange Company's common stock...
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Apple Company purchased 42% of Orange Company's common stock for $418,000 on January 1, 2021. During 2021, Orange Company reported a net in come of $79,000 and paid dividends totaling $13,000. For 2022, Orange Com pany paid dividends totaling $21,0e0. On December 31, 2022, Apple Comp any sold three-fourths of its investment in Orange Company for $319,6 25 cash. Apple Company reported a loss on the sale equal to $12,460. Calculate the balance in the investment in Orange Company account at December 31, 2021. Question 8 3.5 pts Apple Company purchased 42% of Orange Company's common stock for $418,00e on January 1, 2021. During 2021, Orange Company reported a net in come of $79,000 and paid dividends totaling $13,000. For 2022, Orange Com pany paid dividends totaling $21,000. On December 31, 2022, Apple Comp any sold three-fourths of its investment in Orange Company for $319,6 25 cash. Apple Company reported a loss on the sale equal to $12,460. Calculate the amount of net income earned by Orange Company in 20 22
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