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prepare Romans company purchases 300 common shares (40%) of JBI corporation as a long-term investment for $700,000 cash on January 1, JBI paid $20,000 in

prepare Romans company purchases 300 common shares (40%) of JBI corporation as a long-term investment for $700,000 cash on January 1, JBI paid $20,000 in total cash dividends on November 1 and reported net income of 400,000 for the year

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