a. Calculate the equity income that Ace Corporation reports in 2017 related to its ownership in Spear
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U.S. GAAP requires firms to account for equity investments in which ownership is between and using |
Explanation
Calculate the equity income of Company A (Equity Income ) by multiplying the net income of Company S (Net Income ) which is
$100.4 million with the Company A's share in Company S (Share ) which is 35%.
Equity IncomeA = Net IncomeS × ShareAS
= $100.4 Million × 35%
= $35.14 Million
Verified Answer 숥
$35.14 Million
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