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1. Record the purchase of Jackson Industry capital stock for $94. 2. Record Sanborn Tobacco's portion of Jackson Industry's net income of $124 million. 3.

image text in transcribed 1. Record the purchase of Jackson Industry capital stock for $94.

2. Record Sanborn Tobacco's portion of Jackson Industry's net income of $124 million.

3. Record the cash dividend of $3.2 million.

4. Record any necessary entry to adjust the fair value on December 31, 2018.

5. Record the entry to adjust to fair value on the date of sale

6. Record the sale of stock on January 2, 2019 for $118 million.

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