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Williams Company purchased 10% of Lee Inc. for $1,000,000 on January 1, 2021. Lee recognized a total of $400,000 net income during 2021, paid $30,000

Williams Company purchased 10% of Lee Inc. for $1,000,000 on January 1, 2021. Lee recognized a total of $400,000 net income during 2021, paid $30,000 of dividends to Williams during 2021, and at Decem...

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