Jill reported a net loss of 6 million for the year. what, Ask an Expert

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Jack Corporation purchased a 20% interest in Jill Corporation for $1,500,000 on January 1, 2011. Jack can significantly influence Jill. On December 10, 2011, Jill declared and paid $1 million in dividends. Jill reported a net loss of $6 million for the year. What amount of loss should Jack report in its income statement for 2011 relative to its investment in Jill?

a. $1,000,000

b. $1,200,000

c. $1,500,000

d. $1,400,000

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Accounting Basics, Accounting

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