On January 1,2009,Jumper Co

Essay

On January 1,2009,Jumper Co.acquired all of the common stock of Cable Corp.for $540,000.Annual amortization associated with the purchase amounted to $1,800.During 2009,Cable earned net income of $54,000 and paid dividends of $24,000.Cable's net income and dividends for 2010 were $86,000 and $24,000,respectively.
Required:
Assuming that Jumper decided to use the partial equity method,prepare a schedule to show the balance in the investment account at the end of 2010.