On January 1,2019,Calas Company Acquired 40% of the Outstanding Voting

question 108

Multiple Choice

On January 1,2019,Calas Company acquired 40% of the outstanding voting common stock of Nick Company as a long-term investment.During 2019,Nick reported net income of $10,000 and declared and paid dividends of $4,000.During 2019,Calas Company should report equity in investee earnings of:

• A)$5,600.
• B)$4,000.
• C)$2,400.
• D)$10,000.

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