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  3. 3 on january 1 2016 halstead inc purchased 69000 shares...

Question: 3 on january 1 2016 halstead inc purchased 69000 shares...

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3 On January 1, 2016, Halstead, Inc., purchased 69,000 shares of Sedgwick Company common stock for $1,456,000, giving Halstead 25 percent ownership and the ability to apply significant influence over Sedgwick. Any excess of cost over book value acquired was attributed solely to goodwill. Sedgwick reports net income and dividends as follows. These amounts are assumed to have occurred evenly throughout these years. Dividends are declared and paid in the same period 0.5 points Net Income $392,000 443,000 605,000 Annual Cash Dividends (paid quarterly) 132, 000 144, 000 154, 000 Skipped 2016 2017 2018 eBook Print References On July 1, 2018, Halstead sells 10,500 shares of this investment for $25 per share, thus reducing its interest from 25 to 21 percent, but maintaining its significant influence. Determine the amounts that would appear on Halsteads 2018 income statement relating to its ownership and partial sale of its investment in Sedgwicks common stock As total income accrual (no unearned gains) Ason sale of shares
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