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Business, 12.08.2020 04:01 nehemiahj85

On January 4, 2021, Runyan Bakery paid $348 million for 10 million shares of Lavery Labeling Company common stock. The investment represents a 30% interest in the net assets of Lavery and gave Runyan the ability to exercise significant influence over Laverys operations. Runyan received dividends of $2.00 per share on December 15, 2021, and Lavery reported net income of $270 million for the year ended December 31, 2021. The market value of Lavery's common stock at December 31, 2021, was $34 per share. On the purchase date, the book value of Lavery's identifiable net assets was $920 million and:

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On January 4, 2021, Runyan Bakery paid $348 million for 10 million shares of Lavery Labeling Company...
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