(Answered) Question - tinker co owns 25 of the common stock of harbor

Accounting

Question - Tinker Co. owns 25% of the common stock of Harbor Co. and uses the equity method to account for the investment. During 2011, Harbor reported income of $120,000 and paid dividends of $40,000. Harbor owns a building with a useful life of twenty years which is undervalued by $80,000.

Required: Prepare a schedule to show the equity income Tinker should recognize for 2011 related to this investment.

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