On January 1, 2022, the Express Corporation purchased 30% of the common stock outstanding of the Bangor Corporation for $300,000.During 2022, the Bangor Corporation reported net income of $120,000 and paid cash dividends of $30,000.The balance of the Stock Investments-Bangor account on the books of Express Corporation at December 31, 2022, is

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The balance of the Stock Investments-Bangor account on the books of Express Corporation at December 31, 2022, is $327,000. This is calculated as follows:Beginning balance: $300,000Add: Share of net income (30% x $120,000): $36,000Less: Share of dividends received (30% x $30,000): $9,000Ending balance: $327,000

On January 1, 2022, the Express Corporation Purchased 30% of the Common