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Saved Help Save & Exit Harley inc. Income On January 4, 2017, Harley, Inc. acquired 40% of the outstanding common stock of Bike Co. for
Saved Help Save & Exit Harley inc. Income On January 4, 2017, Harley, Inc. acquired 40% of the outstanding common stock of Bike Co. for $2,400,000. This investment gave Harley the ability to exercise significant influence over Bike. Bike's assets on that date were recorded at $10,500,000 with labilities of $4,500,000. There were no other differences between book and fair values. During 2017, B each of these two years. How much income did Harley report from Bike for 2018? ike reported net income of $500,000. For 2018, Bike reported net income of $800,000. Dividends of $300.000 were paid in Multiple Choice
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