Question: On January 1 , 2 0 2 4 , Casey Corporation exchanged $ 3 , 2 9 8 , 0 0 0 cash for 1

On January

1, 2024,

Casey Corporation exchanged $

3, 298, 000

cash for

100

percent of the outstanding voting stock of Kennedy Corporation. Casey plans to maintain Kennedy as a wholly owned subsidiary with separate legal status and accounting information systems.

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