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On January 1,2019 Taylor Inc. purchased 20,000 of the 200,000 outstanding shares of common stock of Swanson Company for $60 per share. The records of

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On January 1,2019 Taylor Inc. purchased 20,000 of the 200,000 outstanding shares of common stock of Swanson Company for $60 per share. The records of Swanson Company reported the following on December 31, 2019: Taylor Inc. should report investment income on its income statement in the amount of

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