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Paula Company acquires 100% of the common stock of Shannon Company for $205, 550 cash. On the acquisition date, Shannon's ledger shows Common Stock $114,

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Paula Company acquires 100% of the common stock of Shannon Company for $205, 550 cash. On the acquisition date, Shannon's ledger shows Common Stock $114, 690 and Retained Earnings $90, 860. Complete the worksheet for the following accounts: Paula-Investment in Shannon Common Stock, Shannon-Common Stock, and Shannon-Retained Earnings

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