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A) Amazon Inc. purchases a 35% investment or 350 shares in Hardy Industries Inc. for $350,000 cash on January 2, 2022. They intend to hold
A) Amazon Inc. purchases a 35\% investment or 350 shares in Hardy Industries Inc. for $350,000 cash on January 2, 2022. They intend to hold this investment for at least five years. B) On December 31, 2022 Hardy Industries Inc. reports net income of $480,000 for the year. C) On March 31, 2023 Hardy Industries Inc. declares and pays a cash dividend of $50 per share. D) On November 1, 2023 Amazon Inc. sells 140 shares of Hardy Industries Inc. to Google Inc. for $1,800 per share. 1 What type of investment is this and how should it be classified on the balance sheet? Marks Available: 2 2 Create the necessary journal entries to record all of the above transactions, no descriptions are required
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