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Prior to consolidation of elimination entries
Plexiglass purchases 80% of the outstanding common stock of Sunglass on Jan 1, 2012 for $1500000. During the year 2012 Sunglass reports net income of $100000 and declares dividends of $5000. Prior to consolidation of elimination entries the balance in Plexiglass's investment in Sunglass' account was:
$1576000 or $1595000 or $1600000 or $1836000 |
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