B Co.owned 70% of the voting common stock of C Corp. ;C Corp.owned 20% of B Co.For 2009,B Co.and C Corp.reported net income (not including the investment)of $600,000 and $300,000,respectively.B Co.and C Corp.paid dividends of $80,000 and $60,000,respectively.
Required:
Prepare a schedule showing B Co.'s share of consolidated net income for 2009 using the treasury stock approach.

Question

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The Answer of B Co.owned 70% of the voting common stock of C Corp. ;C Corp.owned 20% of B Co.For 2009,B Co.and C Corp.reported net income (not including the investment)of $600,000 and $300,000,respectively.B Co.and C Corp.paid dividends of $80,000 and $60,000,respectively.
Required:
Prepare a schedule showing B Co.'s share of consolidated net income for 2009 using the treasury stock approach.

B CoOwned 70% of the Voting Common Stock of C Corp