Myers Company acquired a 60% interest in Gannon Corporation on December 31, 2020 for $1,775,000. During 2021, Gannon had net income of $1,000,000 and paid cash dividends of $250,000.
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ritchett Co. reported the following year-end dа ta: Cash $ 15,000 Short-term investments $ 5,000 Accounts receivable (current) $ 8,000 Inventory $ 20,000 Other current assets $ 6,000 Total current liabilities $ 20,000 Compute the (a) current
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