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Equity investments with Significant Influence: On July 1, 2019, Denver Corp purchased 3,000 shares of Eagle Corp's 10,000 outstanding shares of common stock for $20
Equity investments with Significant Influence: On July 1, 2019, Denver Corp purchased 3,000 shares of Eagle Corp's 10,000 outstanding shares of common stock for $20 per share. Denver Corp had significant influence on Eagle Corp as a result of the investment. On December 15, 2019, Eagle paid $40,000 in dividends to its common shareholders. Eagle's net income for 2019 was $90,000. As of 12/31/2019, Eagle's common stock was trading at $27 per share. Determine what Denver Corp would report in the 2019 income statement and on the 12/31/19 balance sheet related to their Investment in Eagle Corp. (Place your
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