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On January 1, 2010, Garner Corporation purchased 25% of the common stock outstanding of Landon Corporation for $250,000. During 2010, Landon Corporation reported net income of $80,000 and paid cash dividends of $40,000. The balance of the Stock Investments-Landon account on the books of Garner Corporation at December 31, 2010 is
a. $250,000.
b. $290,000.
c. $330,000.
d. $260,000
McKinney Corporation had beginning retained earnings of $2,292,000 and ending retained earnings of $2,499,000. During the year they issued common stock totaling $141,000. What was their net income for the year?
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Suppose that you've a short investment horizon (less than one year). You're considering two investments: a one-year Treasury security and 20-year Treasury security.
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High & Dry’s standard price for direct materials is $3.60 per unit-The actual purchase price per unit was
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