Use the Following Information for Questions

question 71

Multiple Choice

Use the following information for questions.
The summarized balance sheets of Thunder Bay Corp.and Fort William Corp.at December 31, 2017 are as follows:
-If Thunder Bay acquired a 30% interest in Fort William on December 31, 2017 for $67,500 and during 2018 Fort William reported net income of $25,000 and paid a total cash dividend of $30,000, applying the equity method would give a debit balance in the Investment in Fort William Corp.account at the end of 2018 of

• A)$67,500.
• B)$66,000.
• C)$62,500.
• D)$58,500.

---

Definitions:

Assembly Time

The total time required to assemble a product or complete a manufacturing process.

Normally Distributed

A term used to describe data that follows a normal distribution, characterized by its bell-shaped curve.

Standard Deviation

An approach to measure the diversity or scattering of figures in a dataset.

Mean

The average of a set of numbers, obtained by dividing the sum of the numbers by the count of numbers.