Business, 17.04.2021 19:00, hardwick744

Indianapolis Corporation makes an equity-method investment in Richmond Inc. at a purchase price of $4.42 million cash, representing 30% (at book value) of Richmond Inc. During the year, Richmond reports net income of $5,280,500 and Indianapolis receives $877,500 of cash dividends from Richmond. At the end of the year, the market value of Indianapolis’s investment is $4.03 million. At year end, what does Indianapolis Corporation report on its balance sheet for its investment in Richmond Inc.? A.$5,126,650 B.$4,420,000 C.$5,740,900 D.$5,280,500 E. None of the above

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Indianapolis Corporation makes an equity-method investment in Richmond Inc. at a purchase price of $...