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What is the balance in Agee investment account

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Problem - Agee Corp. acquired a 25% interest in Trent Co. on January 1, 2018, for $500,000. At that time, Trent had 1,000,000 shares of its $1 par common stock issued and outstanding. During 2018, Trent paid cash dividends of $160,000 and thereafter declared and issued a 5% common stock dividend when the market value was $2 per share. Trent's net income for 2018 was $360,000. What is the balance in Agee's investment account at the end of 2018?

Reference no: EM132454081

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