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Business, 29.03.2021 17:00 adantrujillo1234

On February 2, 2020, Groove Company purchased 15% of Pop Company's common stock for $53,000. Pop's net income for the years ended December 31, 2020, and December 31, 2021, were $15,000 and $53,000, respectively. On July 30, 2020, Pop declared and paid a dividend of $62,500. On December 31, 2020, the fair value of the Pop stock owned by Groove had increased to $69,000. How much should Groove show in the 2020 income statement as income from this investment

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On February 2, 2020, Groove Company purchased 15% of Pop Company's common stock for $53,000. Pop's n...
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