Santos Corporation has the following portfolio of stock investments (holdings less than 20%) as of December 31,
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Question:
Santos Corporation has the following portfolio of stock investments (holdings less than 20%) as of December 31, 2022.
| Security | Cost | Fair Value | ||
|---|---|---|---|---|
A | $17,000 | $16,000 | ||
B | 23,000 | 25,000 | ||
C | 32,000 | 28,000 | ||
| $72,000 | $69,000 |
On January 22, 2023, Santos Corporation sold security C for $30,000.
Indicate the balance sheet and income statement presentation of the fair value data for the Santos Corporation at December 31, 2022.
Expert Answer:
Minority positions less than 20 in equity investments are valued at either fair value t... View the full answer
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