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What the balance in the investment account should be

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Problem 1: Pharoah Company acquired a 70% interest in Wildhorse Corporation on December 31, 2020 for $1815000. During 2021, Wildhorse had net income of $1040000 and paid cash dividends of $270000. At December 31, 2021, the balance in the investment account should be

Option 1: $1815000.

Option 2: $2543000.

Option 3: $2354000.

Option 4: $2732000.

Reference no: EM132700820

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