Current Attempt in Progress

Pronghorn Co$.$ invested $$1,070,000$ in Stellar Co$.$ for $25\%$ of its outstanding stock. Stellar Co$.$ pays out $30\%$ of

net income in dividends each year.

Use the information in the following T$-$account for the investment in Stellar to answer the following

questions.

Investment in Stellar Co$.$

$($a$)$ How much was Pronghorn Co$.\text{'}$s share of Stellar Co's net income for the year?

Net income $

$($b$)$ What was Stellar Co$.\text{'}$s total net income for the year?

Total net income $

$($c$)$ What was Stellar Co's total dividends for the year?

Total Dividends $

$($d$)$ How much was Pronghorn Co's share of Stellar Co's dividends for the year?