Question: I need help writing this memo. What FASB codification should I use and an explanation. You are an auditor for Lane Collins Robinson, LLP. Orange

I need help writing this memo. What FASB codification should I use and an explanation.

use and an explanation. You are an auditor for Lane Collins Robinson,

You are an auditor for Lane Collins Robinson, LLP. Orange Corporation, one of your clients, made four security investments during the year: 2015,Orangepurchased1,00%00,restinpaidOrangeadividendof On January 1, 2015, Orange purchased a 35% interest in Canary, Inc. for $400,000. Canary's net income for the year was S1,000,000, and it paid Orange a dividend of S30,000 on December 28. At year end, Orange's Canary stock was valued at $500,000. Canary is not publicly traded

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