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Dunn Corporation owns 100 percent of Grey Corporations common stock. On January 2, 2020, Dunn...

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Accounting

Dunn Corporation owns 100 percent of Grey Corporations common stock. On January 2, 2020, Dunn sold to Grey $49,200 of machinery with a carrying amount of $38,250. Grey is depreciating the acquired machinery over a five-year remaining life by the straight-line method. The net adjustments to compute 2020 and 2021 consolidated net income would be an increase (decrease) of

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