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Twilight Co. paid $2,800,000 to acquire all of the common stock of Aurna Corp. on January 1, 2022. Aurna's reported earn
Posted: Wed May 04, 2022 4:31 pm
by answerhappygod
- Twilight Co Paid 2 800 000 To Acquire All Of The Common Stock Of Aurna Corp On January 1 2022 Aurna S Reported Earn 1 (36.48 KiB) Viewed 57 times
Twilight Co. paid $2,800,000 to acquire all of the common stock of Aurna Corp. on January 1, 2022. Aurna's reported earnings for 2022 totaled $512,000, and it paid $160,000 in dividends during the year. The amortization of allocations related to the investment was $28,000. Twilight's net income, not including any income from this investment, was $3,310,000, and it paid dividends of $930,000. On the consolidated financial statements for 2022, what amount should be shown for consolidated dividends? OL $160,000 O. $902,000 O$930,000 OV. $950,000 OV. $1,090,000