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For 2020, what amount of Equity Income will Emily record?Francis, Inc. acquired 40% of Park's...

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Accounting

For 2020, what amount of Equity Income will Emily record?Francis, Inc. acquired 40% of Park's voting stock on January 1,2020 for $420,000. During 2020, Park earned $120,000 and paid dividends of $60,000. During 2021, Park earned $160,000 and paid dividends of $50,000 on April 1 and $40,000 on December 1. On July 1,2021, Francis sold half of its stock in Park for $275,000 cash.
What is the gain on sale of the investment if income was earned evenly throughout 2021?Francis, Inc. acquired 40% of Park's voting stock on January 1,2020 for $420,000. During 2020, Park earned $120,000 and paid dividends of $60,000. During 2021, Park earned $160,000 and paid dividends of $50,000 on April 1 and $40,000 on December 1. On July 1,2021, Francis sold half of its stock in Park for $275,000 cash.
What is the gain on sale of the investment if income was earned evenly throughout 2021?

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