On January 2, 2020, Campbell, Inc. purchased a 20% interest in Renner Corp. for $2,000,000 cash. During 2020, Renner's net income was $2,500,000 and it paid dividends of $750,000. Campbell's 2020 income from Renner was:

The answer is $500,000

Explanation:

The 20% interest in Renner Corp by Campbell Inc. represents a non-controlling interest.

Campbell Inc. must report the net income from Renner according to its percentage of share holding in the parent company(Renner Corp).

Renner's net income for the year was $2,500,000

Therefore, Campbell, Inc.'s 20% shareholding will be:

20% of $2,500,000

0.2 x $2,500,000

$500,000

the correct answer is - no.

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