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Explain the change in Investment in Raven Company Stock

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Reference no: EM132692315

Problem - Hawkeye Company's balance sheet reported, under the equity method, its long-term in- vestment in Raven Company for comparative years as follows:

Investment in Raven Company stock (in millions)

Dec. 31, Year 2 - $281

Dec. 31, Year 1 - $264

In addition, the Year 2 Hawkeye Company income statement disclosed equity earnings in the Raven Company investment as $25 million. Hawkeye Company neither purchased nor sold Raven Company stock during Year 2. The fair value of the Raven Company stock investment on December 31, Year 2, was $310 million.

Explain the change in Investment in Raven Company Stock from December 31, Year 1, to December 31, Year 2.

Reference no: EM132692315

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