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Package Corporation acquired 90 percent ownership of Sack Grain Company on January 1, 20X4, for $110,700 when the fair value of Sack's net assets was

Package Corporation acquired 90 percent ownership of Sack Grain Company on January 1, 20X4, for $110,700 when the fair value of Sack's net assets was $11,000 higher than its $112,000 book value. The i...

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