Solved: What amount of equity income should be reported by julie, Accounting Basics

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What amount of equity income should be reported by julie

On January 1, 2013, Julie Corp. acquired a 10% interest in Mizz Enterprises. On January 1, 2014, Julie acquired an additional 20% Mizz's common stock. No goodwill resulted from either purchase. Mizz reported net incomes of $600,000 and $650,000 for 2013 and 2014, respectively. Dividends paid by Mizz amounted to $200,000 in 2013 and $350,000 in 2014. What amount of Equity Income should be reported by Julie Corp in 2014?

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Accounting Basics: What amount of equity income should be reported by julie

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