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GHI Corporation acquired 30% of the outstanding shares of ABC Corp. for $300,000. ABC Corp. reported net income of $600,000. Calculate the equity income from
GHI Corporation acquired 30% of the outstanding shares of ABC Corp. for $300,000. ABC Corp. reported net income of $600,000. Calculate the equity income from the investment, the carrying value of the investment on the balance sheet, the total dividend income received if ABC Corp. declared dividends of $3 per share, and the market value of the investment if the shares are currently trading at $20 per share.
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