Question 25 4 pts On January 1, 2020, Panthers Inc. paid $1,200,000 to acquire a...
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Question 25 4 pts On January 1, 2020, Panthers Inc. paid $1,200,000 to acquire a 30% interest in Saints Corp's common stock, which gave them the ability to exercise significant influence over Saints operating and financial policies. During 2020, Saints earned $450,000 and paid dividends of $280,000. On January 1, 2021. Panthers sold all of its stock in Saints for $1,350,000 cash. What gain should Panthers report for the sale on its 2021 Income Statement? $0 $15,000 $150.000 $99,000
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