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Pencil Company acquired 80 percent of Stylus Corporation??s stockon January 2, 20X3, for $98,400 cash. Summarized balance sheet datafor the companies on December 31, 20X2,

Pencil Company acquired 80 percent of Stylus Corporationâ??s stockon January 2, 20X3, for $98,400 cash. Summarized balance sheet datafor the companies on December 31, 20X2, follow:Pencil Compan 2 answers

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