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Parker acquired all of Klass common stock on January 1, 2020, in exchange for cash of $770,000. On that day, Klass reported common stock of

Parker acquired all of Klass common stock on January 1, 2020, in exchange for cash of $770,000. On that day, Klass reported common stock of $170,000 and retained earnings of $400,000. At the acquisiti...

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