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Bright Corp purchased 10% outstanding shares of Dark Corp's common stock for $600,000 on January 2, 2018. At the end of 2018, Dark declared dividends

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Bright Corp purchased 10% outstanding shares of Dark Corp's common stock for $600,000 on January 2, 2018. At the end of 2018, Dark declared dividends of $100,000 in total, reported total earnings for the year of $400,000. The fair value of the shares is $500,000. On February 10, 2019, Bright purchased 10% outstanding shares of Neutral Corp's common stock for $500,000. In 2019, neither Dark nor Neutral declared or paid dividend. At the end of 2019, Dark reported total earnings for the year of $400,000 and Neutral reported total earnings for the year of $200,000. The fair value of the Dark shares is $400,000. The fair value of Neutral share is $800,000. 1) Prepare the journal entry to record Bright's purchase of Dark's shares. Put your JE in the first box. 2) Prepare the journal entries at the end of 2018 (Hint: 2 journal entries). Put your JE in the second box. 3) Prepare the journal entry to record Bright's purchase of Neutral's shares. Put your JE in the third box. 4) Prepare the journal entries at the end of 2019. Put your JE in the fourth box

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