(Solved): On January 1, 2021, Wildhorse Corporation purchased 24% of the common shares of Bonita Limited for ...

On January 1, 2021, Wildhorse Corporation purchased 24% of the common shares of Bonita Limited for $392000. During 2021. Bonita Limited paid cash dividends of $62000 and had profit of $309000. During the same period, Wildhorse earned $508000 and paid dividends of $129000. Both corporations have a December 31 year end. On December 31, 2021, the balance in Wildhorse's Investment in Associate-Bonita Common Shares account is $451280. $392000. O $588080 C2240