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Songs Company purchased 27% of the outstanding stock of Tang Company of 1/1/08. Tang reported net income of $113,000 and declared dividends of $29,000 during
Songs Company purchased 27% of the outstanding stock of Tang Company of 1/1/08. Tang reported net income of $113,000 and declared dividends of $29,000 during 2008. How much would Songs adjust their investment in Tang Company under the equity method?(Round to nesarest whole dollar, no decimals)
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Managerial Accounting
Authors: Wendy M. Tietz, Louis Beaubien, Karen W. Braun
3rd Canadian edition
