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Port Company purchased 46, 400 of the 116, 000 outstanding shares of Sund Company common stock on January 1, 20X2, for $180, 000. The purchase
Port Company purchased 46, 400 of the 116, 000 outstanding shares of Sund Company common stock on January 1, 20X2, for $180, 000. The purchase price was equal to the book value of the shares purchased Sund reported the following: Compute the amounts Port Company should report as the carrying values of its investment in Sund Company at December 31, 20X2, 20X3, and 20X4
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