On 1/1/09 Williams Company paid 1,200,000 for its investment in 60,000 shares of C-Company stock. C-Company has 200,000 share of stock issued.

On 1/1/09 Williams Company paid 1,200,000 for its investment in 60,000 shares of C-Company stock. C-Company has 200,000 share of stock issued. The book value and fair value of C-Company net assets are both $4,000,000 at 1/1/09. Consider the following: Net Income