(Answered) Question - agee corp acquired a 25 interest in trent co on

Accounting

Question - Agee Corp acquired a 25% interest in Trent Co. On January 1, 2010, for $500,000. At that time, Trent had 1,000,000 shares of its $1 par common stock issued and outstanding. During 2010, Trent paid cash dividends of $160,000 and thereafter declared and issued a 5% common stock dividend when the market value was $2 per share. Trent's net income for 2010 was $360,000. Prepare the entry(ies) required to record these transactions.

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