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Compute the amounts port company should report

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Question - Port Company purchased 40,800 of the 102,000 outstanding shares of Sund Company common stock on January 1, 20X2, for $190,000. The purchase price was equal to the book value of the shares purchased. Sund reported the following:

Year Net Income Dividends

20X2 $53,000 $38,000

20X3 $43,000

20X4 $11,000

Required - Compute the amounts Port Company should report as the carrying values of its investment in Sund Company at December 31, 20X2, 20X3, and 20X4.

Reference no: EM132630576

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