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Barking Power Company accounts for its 35% investment in Pipeline Corporation under the equity method of accounting. The investment was made on January 1, 2014, at a cost of $625,000. Pipeline Corporation reported net income of $85,000 for the year ended December 31, 2014, and paid total dividends of $20,000 during 2014. On December 31, 2014, after making all appropriate entries, the balance in Barking Power Company's Long-Term Investment account will equal:
Hollow Sphere
A structural formation, often found in biology, where a spherical cavity is surrounded by a wall or membrane.
Cleavage
Cell division without cytoplasmic addition or enlargement; occurs during the first stage of animal development.
Cell Division
A fundamental biological process where a parent cell divides into two or more daughter cells, essential for growth and reproduction.
Blood Cell Formation
The process of creating new blood cells, also known as hematopoiesis, occurring mainly in the bone marrow.
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