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P company owns 60% of the outstanding common stock of S company. On January 1, 2016, P Company sold equipment to S company for $300,000.

P company owns 60% of the outstanding common stock of S company. On January 1, 2016, P Company sold equipment to S company for $300,000. The equipment cost P company $100,000 on January 1, 2010. The u...

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