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Question - Phillips Corporation purchased 1,000,000 shares (10%) of MN Corporation's common stock on June 30, 2017 for $42 per share. On December 20, 2017, MN paid a $4,000,000 cash dividend to its shareholders. On December 31, 2017, MN's stock was trading at $45 per share.
What value will be reported on Phillips' balance sheet at December 31, 2017 for the investment in MN?
$47,200,000
$46,800,000
$45,000,000
$42,000,000
Are the necessary, what is the current status of the integration of IFRS in the U.S.? Provide three complete References
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