Business, 19.05.2020 21:57 jordynp5768

Blossom, Inc. acquired 20% of Nash Corporation's voting stock on January 1, 2021 for $870000. During 2021, Nash earned $361000 and paid dividends of $224000. Blossom's 20% interest in Nash gives Blossom the ability to exercise significant influence over Nash's operating and financial policies. During 2022, Nash earned $461000 and paid cash dividends of $124000 on April 1 and $124000 on October 1. On July 1, 2022, Blossom sold half of its stock in Nash for $621000 cash. Before income taxes, what amount should Blossom include in its 2021 income statement as a result of the investment?

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Blossom, Inc. acquired 20% of Nash Corporation's voting stock on January 1, 2021 for $870000. During...