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On January 1, 2021, Jackie Corp. purchased 30% of the voting common stock of Rob Co. paying $2.000.000 Jacke propery account for s esthet
On January 1, 2021, Jackie Corp. purchased 30% of the voting common stock of Rob Co. paying $2.000.000 Jacke propery account for s esthet ge equity method. At the time of the investment, Rob's total stockholders' equity was $3,000,000. Jackie gathered the folowing information liabilities whose book values and fair values differed: Book Value Fair Value Buildings (15-year life) $1,000,000 $1,500,000 Equipment (5-year life) 2,500,000 3,000,000 Franchises (10-year life) $ 8 $ 500,000 Any excess of cost over fair value was attributed to goodwill, which has not been impaired Rob Co reported net income of of $100,000 during that year. What is the balance in Jackie Corp's Investment in Rob Co account at December 31, 2021
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