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(Using the Full Equity Methods For Investment). Patterson Company acquired 90% of Star Corporation on January 1, 2011 for $2,250,000. Start had net assets at

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(Using the Full Equity Methods For Investment). Patterson Company acquired 90% of Star Corporation on January 1, 2011 for $2,250,000. Start had net assets at that time with a fair value of $2,500,000. At the time of the acquisition, Patterson computed the annual excess fair value amortization to be $20,000, based on the difference between Starr's net book value and net fair value Assume the fair value exceeds the book value, and $20,000 pertains to the whole company. Separate from any earnings from Start Patterson reported net income in 2011 and 2012 of $550,000 and $575,000, respectively. Start reported the following net income and dividend payments 2012 Net Income Dividends 2011 $150,000 $30,000 $180 000 $30.000 Reguted: Calculate the following Endling teline for levestment in Stut shown on Patterson's ledger at December 31, 2011 Calculate the ending balance for Investment in Starr shown on Patterson's ledger at December 31, 2011 Using the Full Equity Methods For Investment). (3 points)

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