What amount of loss sox report on its income statement
Course:- Accounting Basics
Reference No.:- EM132048543

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Question - Sox Corporation purchased a 30% interest in Hack Corporation for $1,725,000 on January 1, 2016. On November 1, 2016, Hack declared and paid $1.9 million in dividends. On December 31, Hack reported a net loss of $6.3 million for the year. What amount of loss should Sox report on its income statement for 2016 relative to its investment in Hack?

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