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Business, 13.11.2019 02:31 simmy6

Panda corporation purchased 100,000 previously unissued shares of skunk company's $10 par value common stock directly from skunk for $2,200,000. skunk's stockholders' equity immediately before the investment by panda consisted of $3,000,000 of common stock and $4,800,000 in retained earnings. what is panda's book value of equity in the net assets of skunk?

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