Salvador inc acquired 30 of the outstanding common stock of

Reference no: EM13483766

Salvador Inc. acquired 30% of the outstanding common stock of YangMing Inc. on December 31, 2013, which allows Salvador to exercise significant influence over YangMing. The purchase price was $750,000 for 30,000 shares. YangMing Inc. declared and paid a $0.50 per share cash dividend on June 30 and on December 31, 2014. YangMingt reported net income of $400,000 for 2014. The fair value of YangMing's stock was $30 per share at December 31, 2014. At what amount is the equity investment reported on the balance sheet at December 31, 2014 and what is the total revenue (or income) reported in 2014 income statement?

Reference no: EM13483766

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