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QUESTION 5 5 On January 2, 2016 Jackson Corporation acquired 359 if the voting stock of Barton Company for $4,000,000 in cash. During 2016 Barton

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QUESTION 5 5 On January 2, 2016 Jackson Corporation acquired 359 if the voting stock of Barton Company for $4,000,000 in cash. During 2016 Barton reported total income of $600,000. Barton sold $5,000,000 in merchandise to Jackson at a markup of 20% on cost; $312,000 remains in Jackson's ending inventory. Compute Jackson's equity in net income of Barton for 2016 on Jackson's books. TTT Arial 3 (12pt) T Path:p Words:0

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