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What is the total effect of the events described

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    Assignment ID: FG133135536

    Question – ABS Company purchased 1,000 shares of BKD Corp. common stock for $65 per share. During the year, BKD had net income of $50,000 and paid $10,000 in dividends. At the end of the year, BKD stockwas trading at $69 per share. Assuming the 1,000 shares represents a 40% ownership stake, what is the total effect of the events described above on ABS’ owners’ equity?

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