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Gardner Corp. owns 80% of the voting common stock of Lockhart Co. Lockhart owns 70% of Canning Co. Gardner and Lockhart both use the initial value method to account for their investments. The following information is available from the financial statements and records of the three companies: Separate company net income includes intra-entity gains before the consolidating deferral but does not include dividend income from investment in subsidiary.The accrual-based net income of Gardner Corp. is calculated to be
Plato
Plato was an ancient Greek philosopher who laid the foundational elements of Western philosophy and science.
Aristotle
An ancient Greek philosopher and polymath, a student of Plato and teacher of Alexander the Great, who made significant contributions to numerous areas of philosophy and science.
Art of Theater
The craft and study of performing arts, including acting, direction, and production, aimed at presenting stories on stage.
Aristotle
An ancient Greek philosopher and polymath, whose extensive works laid the foundation for much of Western philosophy, science, and ethics.
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