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On January 1, Year 5, Anderson Corporation paid $800,000 for 25,000 (20%) of the outstanding...

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Accounting

On January 1, Year 5, Anderson Corporation paid $800,000 for 25,000 (20%) of the outstanding shares of Carter Inc. The investment was considered to be one of significant influence. In Year 5, Carter reported profit of $100,000; in Year 6, its profit was $110,000. Dividends paid were $65,000 in each of the two years. Required: Calculate the balance in Andersons investment account as at December 31, Year 6. (Omit $ sign in your response.) Balance in Andersons investment account $ PART B Now assume that on December 31, Year 6, Anderson lost its ability to significantly influence the operating, investing

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