On January 2, 2020, HDK Co., purchased 30% of Ranger Corporation's common stock for $150,000....
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Accounting
On January 2, 2020, HDK Co., purchased 30% of Ranger Corporation's common stock for $150,000. Ranger's net income for the years ended December 31, 2021 were $50,000 During 2021, Ranger declared and paid a dividend of $60,000. On December 31, 2021, the fair value of the Ranger stock increased to $170,000. What is the carrying value of this equity investment oh HDK's Book? (Ignore the issue of depreciation adjustments) (HDK does not elect Fair Value Option) Type your answer without the dollar sign, but with the comma. e.g. 150,000
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