Business, 06.09.2021 23:00, isabellainksow87vn
At mid-year, National Steel Fabricators, Inc. purchased a 35% ownership interest in Keystone Consolidated, Inc. for $40 million.
At year-end, Keystone reported an operating loss of $6 million, of which only $2 million related to the second half of the year.
Despite the operating loss, Keystone paid its regular quarterly dividend of $1 million in both the third and fourth quarters
Calculate the income statement effect for National Steel at year-end associated with its investment in Keystone.
Calculate the book value that National Steel should record on its balance sheet for its investment in Keystone at year-end.
Answers: 2
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At mid-year, National Steel Fabricators, Inc. purchased a 35% ownership interest in Keystone Consoli...
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