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Time left 0:59:42 Q1: RRR, Inc. acquired 40% of DDD Corp.'s ordinary shares on January 1, 2018 for 400,000. During 2018, DDD earned 160,000 and
Time left 0:59:42 Q1: RRR, Inc. acquired 40% of DDD Corp.'s ordinary shares on January 1, 2018 for 400,000. During 2018, DDD earned 160,000 and paid dividends of 100,000. RRR's 40% interest in DDD gives RRR the ability to exercise significant influence over DDD's operating and financial policies. During 2019, DDD earned 200,000 and paid dividends of 60,000 on April 1 and 60,000 on October 1. On July 1, 2019, RRR sold half of its shares in DDD for 264,000 cash. What should be the gain on sale of this investment in RRR's 2019 income statement
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