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Exercise SA1-4 Equity method, change in interest. Hanson Corporation purchases a 10% interest in Novic...

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Accounting

Exercise SA1-4 Equity method, change in interest. Hanson Corporation purchases a 10% interest in Novic Company on January 1,2016, and an additional 15% interest on January 1,2018. These investments cost Hanson Corporation $80,000 and $110,000, respectively. The following stockholders' equities of Novic Company are available:
December 31,2015 December 31,2017
\table[[Common stock ( $10 par).,$500,000,$500,000
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