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On January 1,2021, Fargo corporation purchased a significant influence shares investment in concord corporation for $500,000. This investment balance represents 25% of the equity of
On January 1,2021, Fargo corporation purchased a significant influence shares investment in concord corporation for $500,000. This investment balance represents 25% of the equity of the Concord Corporation. During 2021, Concord Corporation reported Net Income of $100,000 on November 15,2021 Concord Corporation paid cash divendends of $35,000 to its shareholders. Using this information, what is the 2021 year end balance in Fargo Corporations Investment in Concord Corporation account? Enter as whole dollars
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