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Sox Corporation purchased a 35% interest in Hack Corporation for $1,950,000 on January 1, 2021. On November 1, 2021, Hack declared and paid $2.8
Sox Corporation purchased a 35% interest in Hack Corporation for $1,950,000 on January 1, 2021. On November 1, 2021, Hack declared and paid $2.8 million in dividends. On December 31, Hack reported a net loss of $6.6 million for the year. What amount of loss should Sox report on its income statement for 2021 relative to its investment in Hack? Multiple Choice $970,000. $2,310,000. $1,950,000 $2.230,000.
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