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Bharrat Corporation purchased 37% of Ferris Corporation for $113,000 on January 1. On October 17 of the same year, Ferris Corporation declared total cash dividends
Bharrat Corporation purchased 37% of Ferris Corporation for $113,000 on January 1. On October 17 of the same year, Ferris Corporation declared total cash dividends of $25,000. At year-end, Ferris Corporation reported net income of $73,000. The balance in the Bharrat's Equity Method Investments-Ferris account at December 31 should be: Multiple Choice 0 $140,010. $95,240. 0 $13,000
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