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Please solve question. Show work On January 1, 2020, Coldspring Corp. paid $770,000 to acquire Whitt Co. Coldspring used the equity method to account for

Please solve question. Show work

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On January 1, 2020, Coldspring Corp. paid $770,000 to acquire Whitt Co. Coldspring used the equity method to account for the investment. The following information is available for the assets, liabilities, and stockholders' equity accounts of Whitt: Book Value Fair Value Current assets $95,000 $95,000 Land 95,000 120,000 Building (twenty year life) 255,000 310,000 Equipment (five year life) 185,000 190,000 Current liabilities 40,000 40,000 Long-term liabilities 65,000 65,000 Common stock 140,000 Additional paid-in capital 300,000 Retained earnings 210,000 Whitt earned net income for 2020 of $125,000 and paid dividends of $18,000 during the year. What is the AAP amortization expense for 2020? For 2020, what is the balance in Equity Income on Coldspring's books? What is the balance in Equity Investment at the end of 2020? The 2020 consolidation entry to reverse Coldspring's recognition of Whitt's income and dividends in the current year would include a net credit to Equity Investment for

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