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Assume that, on January 1, 2021 Carnival Corporation paid $2,380,000 for its investment in 33.000 shares of Sphinx Inc. Further, assume thot Sphire has 110.000

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Assume that, on January 1, 2021 Carnival Corporation paid $2,380,000 for its investment in 33.000 shares of Sphinx Inc. Further, assume thot Sphire has 110.000 total shares of stock issued and estimates an eight-year remaining useful life and straight line depreciation with no resident value for its depreciate assets At January 1, 2021, the book value of Sphine's identifiable net assets was $7.400.000, and the for value of Sphinx was $10.000.000 The diference between Shinees for value and the book value of its identifiable net assets is attributable to $1800,000 of ond and the remainder to depreciable assets. Goodwil was not part of the transaction The following information pertains to Sphinx during 2021 Net Income Dividends declared and paid Market price of common stock on 12/31/2021 $400,000 $200,000 5 30/share What amount would Carnival Corporation report in to you and 2021 balance sheet for its westment in Sphinx Inc.) Me Choice SA000 000 6ECS

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