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On January 1, 2019, HK Corp. paid $800,000 for 100,000 shares of Jackie Company's common stock, which represents 30% of Jackies outstanding common stock.
On January 1, 2019, HK Corp. paid $800,000 for 100,000 shares of Jackie Company's common stock, which represents 30% of Jackies outstanding common stock. Jackie reported net income of $50,000 and paid cash dividends of $6,000 during 2019. HK should report the investment in Jackie Company on its December 31, 2019, balance sheet at: a. $813,200 O b. $800,000 c. $825,000 d. $809,500
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