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Business, 26.02.2020 23:11 Kingdcn6261

Gaw Company owns 15% of the common stock of Trace Corporation and used the fair-value method to account for this investment. Trace reported net income of $110,000 for 2013 and paid dividends of $60,000 on October 1, 2013. How much income should Gaw recognize on this investment in 2013?a. $ 16,500 b. $ 9,000 c. $ 25,500

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Gaw Company owns 15% of the common stock of Trace Corporation and used the fair-value method to acco...
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