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Jameston, Inc., owns 35% of Coors Corporation. During the calendar year 2014, Coors had net...

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Accounting

Jameston, Inc., owns 35% of Coors Corporation. During the calendar year 2014, Coors had net earnings of $300,000 and paid dividends of $30,000. Jameston mistakenly recorded these transactions using the fair value method rather than the equity method of accounting. What effect would this have on the investment account, net income, and retained earnings, respectively

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