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Question Help Keller Jewelers purchased 3,000,000 of the outstanding 10,000,000 shares of Angel & Associates....

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Question Help Keller Jewelers purchased 3,000,000 of the outstanding 10,000,000 shares of Angel & Associates. At the time of the acquisition, the book value of Angel's net assets equals their fair market value. Angel declared Net Income of $5,250,000 for the year. How will Angel's Net Income impact Keller's books? O A. Keller will increase Cash and decrease the Investment Account for $1,575,000 B. Keller will increase the Investment account and Income from the Investment for $1,575,000 OC. Keller will increase Cash and increase Income from Investment for $1,575,000 OD. Keller will increase the Investment Account and increase Cash for $1,575,000. Question Help Bosworth Corporation accepted a 5-year note receivable from Steelman Company on January 1, Year 1. The maturity value of the note is $780,000. The note has a stated interest rate of 10%. However, the prevailing market interest rate is 12%. The note requires interest payments on June 30 and December 31. What is the present value of this note at inception O A. $1,009,635 O B. $722,591 O C. $780,000 OD. $435,548

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