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On January 1, 2013, Cameron Inc. bought 10% of the outstanding common stock of Lake...

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Accounting

On January 1, 2013, Cameron Inc. bought 10% of the outstanding common stock of Lake Construction Company for $160 million cash. At the date of acquisition of the stock, Lake's net assets had a fair value of $900 million. Their book value was $800 million. The difference was attributable to the fair value of Lake's buildings and its land exceeding book value, each accounting for one-half of the difference. Lake

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