On January Halstead, Incorporated, purchased shares of Sedgwick Company common stock for
$ giving Halstead percent ownership and the ability to apply significant Influence over Sedgwick. Any
excess of cost over book value acquired was attributed solely to goodwill.
Sedgwick reports net income and dividends as follows. These amounts are assumed to have occurred evenly
throughout these years. Dividends are declared and pald in the same perlod.
On July Halstead sells shares of this investment for $ per share, thus reducing its interest from to
percent, but maintaining its significant Influence.
Required:
Determine the amounts that would appear on Halstead's income statement relating to its ownership and partlal
sale of its investment in Sedgwick's common stock.
Answer is not complete.Please and thank you. The answer to th blank part is not
