$3,000,000. Assuming the income tax rate was 30%, what would be
the diluted earnings per share for the year ended December 31, 2011
7. (TCO B) 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. What is the
balance in Agee’s investment account at the end of 2010?
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ACCT 551 Final Exam Set 2
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Question 1. 1. (TCO C) Which characteristic is not possessed by
intangible assets? (Points : 5)
Physical existence
Short-lived
Result in future benefits
Expensed over current and/or future years