On january 1, 2014, gene corp. paid $800,000 for 100,000 shares of onofine company's common stock, which represents 30% of onofine ′s outstanding common stock. onofine reported net income of $200,000 and paid cash dividends of $60,000 during 2014. gene should report the investment in onofine company on its december 31, 2014, balance sheet at:
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On january 1, 2014, gene corp. paid $800,000 for 100,000 shares of onofine company's common stock, w...
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