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Jans Inc. acquired all of the outstanding common stock of Tysk Corp. on January 1, 2011, for $372,000. Equipment with a ten-year life was undervalued on Tysk's financial records by $46,000. Tysk also owned an unrecorded customer list with an assessed fair value of $67,000 and an estimated remaining life of five years. Tysk earned reported net income of $180,000 in 2011 and $216,000 in 2012. Dividends of $70,000 were paid in each of these two years. Selected account balances as of December 31, 2013, for the two companies follow. If the partial equity method had been applied, what was 2013 consolidated net income?
Syllogism
A form of reasoning in which a conclusion is drawn from two given or assumed propositions (premises), each of which shares a common or middle term not present in the conclusion.
Figure
An object's shape, outline, or representation in art or mathematics, or a notable person in a particular field.
Syllogism
A form of reasoning in which a conclusion is drawn from two given or assumed propositions (premises); a logical structure that uses three parts.
Middle Term
In a categorical syllogism, the term that appears in both premises and links together the major and minor terms.
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