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Next Options Help Save & Srved Mr Mercury, Inc. bought 25% of Hermes Corp's outst assets at the purchase date totaled $1,500, fair values exceeded
Next Options Help Save & Srved Mr Mercury, Inc. bought 25% of Hermes Corp's outst assets at the purchase date totaled $1,500, fair values exceeded their carrying amounts by $80,000 and $40.000. respectively The plant has a During 2018, Hermes reported net income of $200,000 and paid a s20.000 cash dividend. There is no that Mr. Mercury uses the equity method to account for t common 000. Fair values and carrying amounts were the same for all items except for plant and inventory, for whic of goodwill during 2018. Assume t. What amount should Mr. Mercury report in its income statement from its in Hermes for the year ended December 31, 20181? $42.000 $37.000
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