Bloomfield bakers accounts for investment

Reference no: EM13122107

Bloomfield Bakers accounts for its investment in Clor Confectionary under the equity method. Bloomfield carried the Clor investment at $150,000 and $165,000 at December 31m 2010 and 2011, respectively. During 2011 Clor recognized $80,000 of net income and paid dividends of $30,000. Assuming tha Bloomfield owned the same percentage of Clor thorughtout 2011, their percentage ownership must have been:

a. 5%

b. 50%

c. 30%

d. 18.75%

Reference no: EM13122107

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