P Co paid $140,000 for 70% interest in S CO.on 1/1/ 2019,when S had Capital...
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P Co paid $140,000 for 70% interest in S CO.on 1/1/ 2019,when S had Capital Stock of $50,000 and Retained Earnings of $100,000. Fair values of net assets were the same as recorded book values. During 2019,S had income of $20,000,declared dividends of $7,500,On 31/12/2019,the P CO financial statements will show income from subsidiary for 2019 Amount?
Select one:
a. 12,500
b. 5,250
c. 20,000
d. 14,000
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