Assume that Oslo Corp. acquires 30% of Celdon Corp. for $300,000 on January 1, 2014. The journal entry on Oslo's books assuming Celdon's net income for 2014 was $500,000 would include a debit to

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Oslo Corp. would record its share of Celdon Corp.'s net income, which is 30% of $500,000, as an increase in its investment account. Therefore, it would debit Stock Investments for $150,000.

Assume That Oslo Corp