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4. On Jan 1, 2008, Brown Corp purchased 12% ABC Corp’s common stock for $50,000. During...

4. On Jan 1, 2008, Brown Corp purchased 12% ABC Corp’s common stock for $50,000. During 2008, ABC declared and paid a dividend of $60,000. ABC Corp also had net income $10,000 for year 2008. On Dec 31, 2008, Brown Corp’s share of ABC common stock had a fair value of $70,000. How much should Brown Corp show in the 2008 I/S as dividend revenue from this investment?

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Brown company purchased 121 of common stock in ABC Corps. for $ 50000. bio PR * ABC $60000. corp paid a dividend of Brown co

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