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On January Pomona Company acquired of Sun Incorporated by paying $ This included a $ control premium. Sun reported common stock on that date of $ with retained earnings of $ An equipment was undervalued in the company's financial records by $ This equipment had a tenyear remaining life. In addltion, Sun held a patent worth $ that had a year remaining life but was not recorded on its financial records.
Sun earned income and paid cash dividends as follows:
tableNet Income,Dividends Paid$$
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