Calibri 11 AA General Paste BI U - - A v 100 Undo Clipboard Font Alignment Numb M30 XV fx A B D F G 21 Assume that Killeen purchased a 20% stake in Bluebonnet inc 420,000 shares for $500,000 at the beginning of the fiscal year of both companies. On the purchase date, the fair value and book value of AMC's net assets were equal. During the year, AMC earned net income of $270,000 and distributed cash dividends of 25 cents per share. At year-end, the fair value of the shares is 22 $527,000. If no entry is neded, place N\\A on Journal. 23 24 Event General Journal Debit Credit