On January 1, 2036, Cp9-15T Company acquired the following investments: 1. 6,820 shares (representing 18%) of...

 

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On January 1, 2036, Cp9-15T Company acquired the following investments: 1. 6,820 shares (representing 18%) of BG-8Yt Company stock for $98,000 2. 42,200 shares (representing 47%) of Ix-7n Company stock for $487,000 BG-8Yt Company and Ix-7n Company reported the following information for 2036: BG-8Yt Company Ix-7n Company $380,000 $12,000 $37 per share Net income $240,000 Total dividends paid $47,000 Market value of stock at Dec 31 $25 per share Calculate the total investments shown on Cp9-15T's December 31, 2036 balance sheet (i.e., calculate the the balance in the investment in BG-8Yt Company + the balance in the investment in Ix-7n Company at December 31, 2036). On January 1, 2036, Cp9-15T Company acquired the following investments: 1. 6,820 shares (representing 18%) of BG-8Yt Company stock for $98,000 2. 42,200 shares (representing 47%) of Ix-7n Company stock for $487,000 BG-8Yt Company and Ix-7n Company reported the following information for 2036: BG-8Yt Company Ix-7n Company $380,000 $12,000 $37 per share Net income $240,000 Total dividends paid $47,000 Market value of stock at Dec 31 $25 per share Calculate the total investments shown on Cp9-15T's December 31, 2036 balance sheet (i.e., calculate the the balance in the investment in BG-8Yt Company + the balance in the investment in Ix-7n Company at December 31, 2036).

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