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CBC purchased 100,000 shares of MNO common at a price of $40 per share The company has 400,000 shares of stock outstanding MNO earned $1,200,000

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CBC purchased 100,000 shares of MNO common at a price of $40 per share The company has 400,000 shares of stock outstanding MNO earned $1,200,000 in the current year MNO paid a dividend of 20 cents per share Prepare all relevant entries ofr CBC and indicate the value of the investment account at year-end

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