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IV. Slick Corp purchases 500,000 shares of Slo-Mo Corp's 1,500,000 shares of outstanding stock for $8 million. a. Record the transaction for Slick's purchase of

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IV. Slick Corp purchases 500,000 shares of Slo-Mo Corp's 1,500,000 shares of outstanding stock for $8 million. a. Record the transaction for Slick's purchase of Slo-Mo. b. Later, Slo-Mo reports earnings of $2 million. Record the entry that Slick Corp must make. c. Subsequently, Slo-Mo declares and pays a dividend of $750,000 to all its shareholders. Record the entry that Slick Corp must make. d. What is the ending balance of Slick Corp's investment in Slo-Mo

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