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The investments of Harlon Enterprises included the following cost and fair value amounts: ($ in millions) Fair Value, Dec. 31 Equity Investments On September 12,
The investments of Harlon Enterprises included the following cost and fair value amounts: ($ in millions) Fair Value, Dec. 31 Equity Investments
On September 12, it purchased the C Corporation shares.
Required: 1. What is the effect of the sale of the A Corporation shares and the purchase of the C Corporation shares on Harlon's 2019 pretax earnings?
2. At what amount should Harlon's securities equity investment portfolio be reported in its 2019 balance sheet?
($in millions) Fair Value, Dec. 31 Equity Investments A Corporation shares B Corporation share:s C Corporation shares D Industries shares Cost $ 20 35 15 45 $115 2018 $14 35 na 46 2019 na $ 37 14 50 $101 Totals $95Step by Step Solution
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