2. Referring to the values in (1), prepare the following schedules using columns for the years 2011
• Acme’s equity in PHC earnings with rows showing these:
• Acme’s share of PHC reported income.
• Amortization expense.
• Acme’s equity in PHC earnings.
• Acme’s Investment in PHC balance with rows showing the following:
• Beginning balance.
• Equity earnings.
• Ending balance.
• Return on beginning investment balance _ Equity earnings/Beginning investment balance in each
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