Question: On January 1 , 2 0 2 5 , Jacklin Corporation paid ( $ 2 , 4 0 0 , 0 0 0

On January 1,2025, Jacklin Corporation paid \(\$ 2,400,000\) for 30 percent of the outstanding voting stock of Mason, Incorporated, and appropriately applied the equity method for its investment. Any excess of cost over Mason's book value was attributed to an indefinite-lived asset. During 2025, Mason reports \(\$ 600,000\) in net income and a \(\$ 840,000\) other comprehensive income loss. Mason also declares and pays \(\$ 20,000\) in dividends. What amount should Jacklin report as its Investment in Mason on its December 31,2025, balance sheet?\$2,586,000.\$2,434,000.\$2,322,000.\$2,826,000.
On January 1 , 2 0 2 5 , Jacklin Corporation paid

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