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Copper Company Purchased 40% of the Common Stock of York

Question 90

Multiple Choice

Copper Company purchased 40% of the common stock of York Corporation on January 1,2019,for $2,000,000 as a long-term investment.The records of York Corporation showed the following on December 31,2019: Copper Company purchased 40% of the common stock of York Corporation on January 1,2019,for $2,000,000 as a long-term investment.The records of York Corporation showed the following on December 31,2019: How much investment income should Copper report from the York investment during 2019? A) $290,000. B) $108,000. C) $116,000. D) $8,000. How much investment income should Copper report from the York investment during 2019?


A) $290,000.
B) $108,000.
C) $116,000.
D) $8,000.

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