Question: 3. PE. 15-03.ALGO (Algorithmic) Equity Method On January 2, Yorkshire Company acquired 34% For the year ended December 31, Fain Company earned income of $94,000

3. PE. 15-03.ALGO (Algorithmic) Equity Method On January 2, Yorkshire Company acquired 34% For the year ended December 31, Fain Company earned income of $94,000 and paid dividends of $29,000. Prepare the entries for Yorkshire Company for the purchase of the stock, the share of Fain income, and the dividends received from Fain Company. Jan. 2 - Purchase of the outstanding stock of Fain Company for $360,000 Dec. 31 Income Dec. 31- Dividends

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