Blue Bell acquires 1,500 of the 10,000 shares of SweetCo on January 1, 2022 for $600 per share. SweetCo reports $500,000 of net income in 2022 and paid $10 per share in dividends. Shares of SweetCo traded for $620 per share on December 31, 2022. What amount will Blue Bell report for this investment on December 31, 2022? (Not asking for amount of income Blue Bell will report)
Blue Bell acquires 1,500 of the 10,000 shares of SweetCo on January 1, 2022 for $600 per share. SweetCo reports $500,000 of net income in 2022 and paid $10 per share in dividends. Shares of SweetCo traded for $620 per share on December 31, 2022. What amount will Blue Bell report for this investment on December 31, 2022? (Not asking for amount of income Blue Bell will report)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Blue Bell acquires 1,500 of the
10,000 shares of SweetCo on
January 1, 2022 for $600 per
share. SweetCo reports $500,000
of net income in 2022 and paid
$10 per share in dividends. Shares
of SweetCo traded for $620 per
share on December 31, 2022.
What amount will Blue Bell report
for this investment on December
31, 2022?
(Not asking for amount of income
Blue Bell will report)
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