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Earth Inc. purchased 9,000 of the common shares of Ocean Inc. on January 1, Year 2 for $180,000. Ocean had 90,000 common shares outstanding. During

Earth Inc. purchased 9,000 of the common shares of Ocean Inc. on January 1, Year 2 for $180,000. Ocean had 90,000 common shares outstanding. During Year 2, Ocean had income of $80,000 and paid dividen 1 answer

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