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On January 1, 20X5, Power Company purchases 80% of the outstanding shares of the Spencer Company for $2,500,000 in cash . On that date, Spencer

On January 1, 20X5, Power Company purchases 80% of the outstanding shares of the Spencer Company for $2,500,000 in cash . On that date, Spencer Company had No Par Common Stock of $2,000,000 and Retain...

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