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Poppy Corporation paid $180,000 for an 30% interest in Soppy Corporation on January 1, 20X1 when the stockholders' equity of Soppy consisted of $300,000 capital

Poppy Corporation paid $180,000 for an 30% interest in Soppy Corporation on January 1, 20X1 when the stockholders' equity of Soppy consisted of $300,000 capital stock and $140,000 retained earnings. ...

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