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Fredo, Incorporated, purchased 10% of Sonny Enterprises for$1,000,000 on January 1, 2024. Sonny recognized a total of $400,000net income during 2024, paid $30,000 of dividends

Fredo, Incorporated, purchased 10% of Sonny Enterprises for$1,000,000 on January 1, 2024. Sonny recognized a total of $400,000net income during 2024, paid $30,000 of dividends to Fredo during2024, 2 answers

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