Pacioli instructed those who wish to keep track of business transactions to create an inventory first. The inventory in his scheme can be considered equivalent to the income statement in modern accounting practices
a. True b. False
b
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Slide Corporation reported net income for the current year of $370,000 and paid cash dividends of $50,000. Power Company holds 40 percent of the outstanding voting stock of Slide. However, another corporation holds the other 60 percent ownership and does not take Power's input into consideration when making financing and operating decisions for Slide. What investment income should Power recognize for the current year?
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