A special bailee can limit its liability for damage to bailed property provided it notifies the bailor

The so-called "misery index" is the sum of a country's inflation and unemployment rates

Indicate whether the statement is true or false

On July 1, 2013, Mecca Group purchased for cash 35 percent of the outstanding capital stock of Wembley Studios. Both Mecca Group and Wembley Studios have a December 31 year-end. Wembley Studios, whose common stock is actively traded in the

over-the-counter market, reported its total net income for the year to Mecca Group and also paid cash dividends on November 15, 2013, to Mecca Group and its other stockholders. How should Mecca Group report the above facts in its December 31, 2013, balance sheet and its income statement for the year then ended? Discuss the rationale for your answer.