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What should Owl show on its balance sheet

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Question - On May 3, 2019, Owl Co. purchased 20,000 common shares of Fox Co., representing 15% of Fox's outstanding shares, for $900,000. Owl's CEO is on Fox's board of directors, so Owl does have significant influence over Fox. At 12/31/19, Fox reported $600,000 net income and declared dividends of $100,000, when the market price of Fox's stock was $44.

Required - What should Owl show on its 12/31/19 balance sheet for its investment in Fox?

A) $900,000

B) $990,000

C) $1,005,000

D) $975,000

E) $880,000

Reference no: EM132680716

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