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What is the carrying value of flint investment

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Question - On January 1, 2017, Flint Corporation purchased 20% of the outstanding voting common stock of White Company for $600,000. For the year ended December 31, 2017, White reported net income of $250,000 and paid cash dividends of $50,000. The fair value of the shares on December 31, 2017 was $590,000. What is the carrying value of Flint's investment in White at December 31, 2017?

a. $600,000

b. $640,000

c. $590,000

d. $660,000

Reference no: EM132183436

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