Question: On January 1 , 2 0 2 5 , Cullumber Company purchased 3 0 % of Ivanhoe Corporation's common stock; no goodwill resulted from the

On January

1, 2025,

Cullumber Company purchased

30 %

of Ivanhoe Corporation\'s common stock; no goodwill resulted from the purchase. Cullumber appropriately carries this investment at equity and the balance in Cullumber\'s investment account was $

1190000

at December

31, 2025 .

Ivanhoe reported net income of $

710000

for the year ended Dece er

31, 2025,

and paid cash dividends on common stock totaling $

285000

during

2025 .

How much did Cullumber pay for its

30 %

interest in Ivanhoe?

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