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On January 2 , Yorkshire Company acquired 37% of the outstanding stock of Fain Company for $430,000. For the year ended December 31, Fain Company

image text in transcribed On January 2 , Yorkshire Company acquired 37% of the outstanding stock of Fain Company for $430,000. For the year ended December 31, Fain Company earned income of $112,000 and paid dividends of $34,000. Prepare the entries for Yorkshire Company for the purchase of the stock, the share of Fain income, and the dividends received from Fain Company

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