On January 2, 2020, Campbell, Inc. purchased a 20% interest in Renner Corp. for $2,000,000 cash. During 2020, Renner's net income was $2,500,000 and it paid dividends of $750,000. Campbell's 2020 income from Renner was:
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Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $ 29,500 $ 45,000 Inventory 31,000 38,000 Net sales (all credit) 194,000 190,000 Cost of goods sold 115,000 112,000
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