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Question - On January 1, 2019, HK Corp. paid $800,000 for 100,000 shares of Jackie Company's common stock, which represents 35% of Jackie′s outstanding common stock. Jackie reported net income of $17,000 and paid cash dividends of $8,000 during 2019. What the HK should report the investment in Jackie Company on its December 31, 2019, balance sheet?
a. $809,000
b. $800,000
c. $817,000
d. $825,000
At the end of 2019, the cost of merchandise on hand was $300,000. Compute Selma's gross income from merchandise sales for 2019
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