Answered
On January 6, 2010, Miller Company acquired 4, 000 shares (or 10%) of Little Corporation's common stock at $28 per share.The securities are classified as available-for-sale investments.On October 24, 2010, Little declared and paid a cash dividend of $1 per share.On December 31, 2010, the market value of Little's common stock was $32 per share.Little also reported a net income of $200, 000 for 2010.At what value should Miller report the investment in Little's common stock on its December 31, 2010 balance sheet?
A) $112, 000
B) $128, 000
C) $133, 000
D) $153, 000
On Sep 22, 2024