On 1/1/2020, ABC started operations by issuing common stock 10,000,000 Shares Par value per share $ 25 Price per share $
Posted: Tue Nov 16, 2021 8:48 am
On 1/1/2020, ABC started operations by issuing common stock
10,000,000 Shares Par value per share $ 25 Price per share $ 280 On
1/1/2020, XYZ invested in ABC $784,000,000 During 2020, ABC had the
following transactions: Paid dividends (TOTAL) $ 5,900,000 Net
income $890,000,000 During 2020, XYZ had the following
transactions: Paid dividends (TOTAL) $ 17,000,000 Revenues and
gains $170,000,000 Expenses and losses $100,000,000 Revenues,
gains, expenses, and losses for XYZ do not include investment
related transactions Calculate income (loss) before tax for XYZ for
the year ending 12/31/2020.
10,000,000 Shares Par value per share $ 25 Price per share $ 280 On
1/1/2020, XYZ invested in ABC $784,000,000 During 2020, ABC had the
following transactions: Paid dividends (TOTAL) $ 5,900,000 Net
income $890,000,000 During 2020, XYZ had the following
transactions: Paid dividends (TOTAL) $ 17,000,000 Revenues and
gains $170,000,000 Expenses and losses $100,000,000 Revenues,
gains, expenses, and losses for XYZ do not include investment
related transactions Calculate income (loss) before tax for XYZ for
the year ending 12/31/2020.