Calculate income for a midyear investment Car Corporation pays $600,000 for a 30 percent interest in Med Corporation on July 1, 2011, when the book value of Med's identifiable net assets equals fair value. Information relating to Med follows (in thousands):

REQUIRED:?

Calculate Car's income from Med for 2011.

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December 31, 2010 December 31, 2011 Capital stock, $1 par Retained earnings Total stockholders' equity Med's net income earned evenly throughout 2011 Med's dividends for 2011 (paid $50.000 on March I and $50,000 on September 1) $ 600 400 $ 600 500 $1.100 $1.000 $200 $100