On January 1, 2010, Duvall Industries acquired a 15% interest in Florida Corporation through the purchase of 12,000 shares of Florida Corporation common stock for $240,000. During 2010, Florida Corp. paid $60,000 in dividends and reported a net loss of $90,000. Duvall is able to exert significant influence on Florida. However, Duvall mistakenly records these transactions using the cost method rather than the equity method of accounting. Which of the following would show the correct presentation for Duvall's investment using the equity method?

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The Answer of On January 1, 2010, Duvall Industries acquired a 15% interest in Florida Corporation through the purchase of 12,000 shares of Florida Corporation common stock for $240,000. During 2010, Florida Corp. paid $60,000 in dividends and reported a net loss of $90,000. Duvall is able to exert significant influence on Florida. However, Duvall mistakenly records these transactions using the cost method rather than the equity method of accounting. Which of the following would show the correct presentation for Duvall's investment using the equity method?

On January 1, 2010, Duvall Industries Acquired a 15% Interest