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45. Hays purchased 100 shares of Exxon Mobil on 10/28/2016 for $84.78 per share. On December 20, 2016 he received a dividend check for $25. By December 31, 2016 the share price had increased to $90.26, but Hays continued to hold the stock. By December 31, 2017 the share price had decreased to $83.64. Hays continued to hold the stock throughout 2017 and received four dividend checks worth $150 in total. Finally, Hays sold the stock on 1/26/2018 for $89.00 per share. What are Hays recognized income and deferred income for his Exxon Mobil shares for 2016, 2017, and 2018:
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2016 Cos of acquisition pre acquisition dividend Net value of investment 8478 25 8453 Value of investment as on 31 dec 2016 9026 Deffered income on investment ( recognised as deferred income (excess fair value 573 2017 Opening value of investment as on 1 Jan 2017 Value of investment as on 31 dec 2017 Loss on revaluation of investment 9026 8364 662 Reversing deferred income Remaing charged from Profit & loss account 573 89 Income recognised for dividend 2018 Opening value of investment as on 1 Jan 2018 Sold investment 8364 8900 Profit on sale of investment 536

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