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_____ on 4/1/07, Pakco Sold Its Foreign Subsidiary for $5,000,000

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_____ On 4/1/07, Pakco sold its foreign subsidiary for $5,000,000. On this date, the carrying value of the Investment in Subsidiary account was $4,000,000, and the AOCI-Cumulative Translation Adjustment account had a debit balance of $700,000. In the 2007 financial statements, what should Pakco report?
_____ On 4/1/07, Pakco sold its foreign subsidiary for $5,000,000. On this date, the carrying value of the Investment in Subsidiary account was $4,000,000, and the AOCI-Cumulative Translation Adjustment account had a debit balance of $700,000. In the 2007 financial statements, what should Pakco report?

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