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On January 1 , Vince SpA purchased a 2 5 % equity in Morelli SpA for 1 8 0 , 0 0 0 . At

On January $1,$ Vince SpA purchased a $25 %$ equity in Morelli SpA for $180, 000 .$ At December $31,$ Morelli declared and paid a $36, 000$ cash dividend and reported net income of $160, 000 .$ Instructionsa. Journalize the transactions.b $.$ Determine the amount to be reported as an investment in Morelli at December $31 .$

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