What amount does conner company report

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On January 1, 20X8, Conner Company acquired 30 percent of Lu Company's common stock for $30,000. Lu's balance sheet at 1/1/20X8 had total equity of $100,000. Lu reported net income of $150,000 for 20X8 and declared total dividends of $72,000 for 20X8. Conner uses the equity method to account for this investment. The fair value of Lu's common stock was $105,000 at 12/31/X8.

Problem 1: Based on this information. what amount does Conner Company report in the investment account on 12/31/X8?

  1. Round your final answer to the nearest dollar.

Reference no: EM132460150

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