McKinley Company owns 15,000 of the 50,000 outstanding shares of Ranier Corporation common stock but

 
   

Need your ASSIGNMENT done? Use our paper writing service to score better and meet your deadlines.  

McKinley Company owns 15,000 of the 50,000 outstanding shares of Ranier Corporation common stock but cannot exert significant influence over Ranier. During 2009, Ranier earns $350,000 and pays cash dividends of $140,000.Indicate the effect on McKinley’s 2009 Net Income: