On January 2, 2022, Kokomo Corp. invested $2,524,500 in Laramie Inc. for 25% of its outstanding...

  
 
 
 
 
 

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On January 2, 2022, Kokomo Corp. invested $2,524,500 in Laramie Inc. for 25% of its outstanding common shares. Kokomo exercises significant influence over Laramie. Both companies have calendar year ends. Laramie pays out 10% of its net income in dividends each year. During 2022, Kokomo received a cash dividend of $102,000 from Laramie Inc. What was Laramie's Inc.'s net income for 2022? Net Income $ On December 31, 2021, Laramie Ltée held the following debt and equity investments: Quantity Cost per Unit Fair Value per Unit Debt Securities Dominion bonds 3,600 $100 $97 Government of Canada bonds 2,000 100 138 Equity Securities Bank of Calgary 3.600 53 59 Matco Inc. 10,400 30 33 9,800 38 42 Argenta Corp. Calculate the cost and fair value of Laramie's investment portfolio at December 31. Cost Debt Securities Quantity Unit Dominion bonds Government of Canada Bonds Sub-total Cost Total Uni Calculate the cost and fair value of Laramie's investment portfolio at December 31. Cost Unit Total. Unit Fair Value Total Equity Securities Bank of Calgary Matco Inc. Argenta Corp. Sub-total Total Quantity Unit Cost Total Un Unit Cost I Total Unit Fair Value Total On January 2, 2022, Kokomo Corp. invested $2,524,500 in Laramie Inc. for 25% of its outstanding common shares. Kokomo exercises significant influence over Laramie. Both companies have calendar year ends. Laramie pays out 10% of its net income in dividends each year. During 2022, Kokomo received a cash dividend of $102,000 from Laramie Inc. What was Laramie's Inc.'s net income for 2022? Net Income $ On December 31, 2021, Laramie Ltée held the following debt and equity investments: Quantity Cost per Unit Fair Value per Unit Debt Securities Dominion bonds 3,600 $100 $97 Government of Canada bonds 2,000 100 138 Equity Securities Bank of Calgary 3.600 53 59 Matco Inc. 10,400 30 33 9,800 38 42 Argenta Corp. Calculate the cost and fair value of Laramie's investment portfolio at December 31. Cost Debt Securities Quantity Unit Dominion bonds Government of Canada Bonds Sub-total Cost Total Uni Calculate the cost and fair value of Laramie's investment portfolio at December 31. Cost Unit Total. Unit Fair Value Total Equity Securities Bank of Calgary Matco Inc. Argenta Corp. Sub-total Total Quantity Unit Cost Total Un Unit Cost I Total Unit Fair Value Total

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1st question Answer Kokomo Corp invested 2524500 in Laramies Incs for 25 of its ... View the full answer