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On January 1, 2010. Garner Corporation purchased 25% of the common stock outstanding of Landon Corporation for $250,000. During 2010. Landon Corporation reported net income
On January 1, 2010. Garner Corporation purchased 25% of the common stock outstanding of Landon Corporation for $250,000. During 2010. Landon Corporation reported net income of $80,000 and paid cash dividends of $40,000. The balance of the Stock Investments - Landon account on the books of Garner Corporation at December 31, 2010 is $250,000 $290,000 $330,000 $260,000
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