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Calculate the amount of net income

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Question - On January 31, 2008, Argentine company acquired 20 percent od silver corporation common stock at boo value. During 2008 and 2009 silver reported net income and dividends and Argentine reported operating income as follows: silver's net income 36000 and 24000 in 2008 and 2009 respectively. Silver's dividends 12000 and 16000 in 2008 and 2009 respectively. Argentine's operating income 80000 and 125000 in 2008 and 2009.

Required: Calculate the amount of net income Argentine Company should report for 2008 and 2009.

Reference no: EM131783600

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