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What is the book value of barber investment

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Question - On January 2, Year 1, Barber Company purchased 5,500 shares of Convell Company for $65,600. Convell Company has a total of 27,500 shares of common stock outstanding and it is presumed the Barber Company will have a significant influence over Convell. During each of the next two years, Convell declared and paid cash dividends of $0.85 per share, and its net income was $77,000 and $72,000 for Year 1 and Year 2, respectively. What is the book value of Barber's investment in Convell at the end of Year 2?

Reference no: EM132588732

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