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Calculate income for a midyear investment car corporation

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Reference no: EM13547992

Calculate income for a midyear investment Car Corporation pays $600,000 for a 30 percent interest in Med Corporation on July 1, 2011, when the book value of Med's identifiable net assets equals fair value. Information relating to Med follows (in thousands):

1124_Calculate Cars income from Med for2011.PNG

REQUIRED: Calculate Car's income from Med for2011.

Reference no: EM13547992

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