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On January 1, 2019, P. Company purchased 80% of the outstanding common shares of S. Company for $400,000. On this date, S. Company had common

On January 1, 2019, P. Company purchased 80% of the outstanding common shares of S. Company for $400,000. On this date, S. Company had common shares of $300,000 and retained earnings of $120,000. The ...

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