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What was the purchase price page company paid

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Problem - On January 2, 2020 Page Company purchased 25% of the outstanding common stock of Jobs, Inc. and subsequently used the equity method to account for the investment. During 2020 Jobs, Inc. reported net income of $1,260,000 and distributed dividends of $540,000. The ending balance in the Page's investment account at December 31, 2020 was $960,000 after applying the equity method during 2020. What was the purchase price Page Company paid for its investment in Jobs, Inc?

Reference no: EM132956967

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