Investment in Assoc.

12,000,000

NI, 2020 5,000,000

Unrealized profit -200,000
Adjusted NI 4,800,000
Share in profit 25%
Investment inc, 2020 1,200,000

NI, 2021 8,000,000

Realized profit 200,000
Unrealized -400,000
Adjusted NI 7,800,000
Share in profit 25%
Investment inc, 2021 1,950,000

Acq. Cost 12,000,000

Inv Inc, 2020 1,200,000
Inv Inc, 2021 1,950,000
Div, 2020 (750,000)
Div, 2021 (1,375,000)
IiA, 2021 13,025,000

Acquisition cost 4,000,000

Net assets 3,600,000
Excess of CA 400,000
Depreciation bldg -560000
Inventory -40000
Excess net FV (200,000)

Share in income 480000

Depreciation -56000
Inventory -40000
Excess net FV 200,000
Inv Inc 584,000
Acq Cost 16,000,000
Net asset acq 13,000,000
Excess of cost 3,000,000

Share in income 2,500,000

Depreciation (600,000)
Inv income 1,900,000

Acq cost 16,000,000

Inv income 1,900,000
Cash Dividend (1,400,000)
IiA, end 16,500,000

Cash dividend 8,000,000

Interest in Carnation 12%
Income from Inv. 960,000