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On January 1, 2022, Protection Inc. purchased 60% of the outstanding shares of Safe Co. for $360,000. The balance sheets for both companies immediately after
On January 1, 2022, Protection Inc. purchased 60% of the outstanding shares of Safe Co. for $360,000. The balance sheets for both companies immediately after the transaction appear below.
Required:
a) Prepare a consolidated Statement of Financial Position. Your statement must be in good form.
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