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On December 31,2019, Akron, Inc., purchased 5 percent of Zip Company's common shares...

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Accounting

On December 31,2019, Akron, Inc., purchased 5 percent of Zip Company's common shares on the open market in exchange for $16,000. On December 31,2020, Akron, Inc., acquires an additional 25 percent of Zip Company's outstanding common stock for $95,000.
During the next two years, the following information is available for Zip Company:
\table[[,,,Common Stock],[,Income,\table[[Dividends],[Declared]],\table[[Fair Value],[(1231)
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