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ast Imperial Corporation acquired a 90% interest in Moon Corporation in 2017 when Moon's book values were equivalent to fair values. Moon sold equipment with
ast Imperial Corporation acquired a 90% interest in Moon Corporation in 2017 when Moon's book values
were equivalent to fair values. Moon sold equipment with a book value
of $80,000 to East for $130,000 on January 1, 2019. East is fully depreciating the equipment
over a 4-year period by using the straight-line method. Moon reported net income
for 2019 was $420,000. East's 2019 income from Moon was
A)$249,250.B) $250,500.
C)$254,250.D) $301,000
A.$249,250.
B.$250,500
C.$254,250
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