Business, 20.02.2020 05:38 dontworry48

As a long-term investment at the beginning of the 2021 fiscal year, Florists International purchased 20% of Nursery Supplies Inc.'s 10 million shares for $67 million. The fair value and book value of the shares were the same at that time. During the year, Nursery Supplies earned net income of $60 million and distributed cash dividends of $1.50 per share. At the end of the year, the fair value of the shares is $63 million.

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As a long-term investment at the beginning of the 2021 fiscal year, Florists International purchased...