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Business, 27.08.2020 06:01 leothedrifter

ABC Company owns 30% of the outstanding shares of Teal Company. At the beginning of the current year, the carrying value of Teal's stock on ABC's balance sheet was $60,000. During the period, Teal paid dividends of $10,000 and reported a net income of $40,000. What is the carrying value of Teal's stock on ABC's balance sheet at the end of the year?

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ABC Company owns 30% of the outstanding shares of Teal Company. At the beginning of the current year...
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