On December 31, 2017, Celtic Inc. acquired a 24% interest in Romano Corp. for $100,000 and appropriately applied the equity method. During 2017, Romano had net income of $400,000 and paid cash dividends of $50,000. How much will Celtic report for the year ending December 31, 2018 on its income statement? Show your work.

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The Answer of On December 31, 2017, Celtic Inc. acquired a 24% interest in Romano Corp. for $100,000 and appropriately applied the equity method. During 2017, Romano had net income of $400,000 and paid cash dividends of $50,000. How much will Celtic report for the year ending December 31, 2018 on its income statement? Show your work.