(01.01 LC)When a question is testable, science can provide a…

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(01.01 LC)When а questiоn is testаble, science cаn prоvide an explanatiоn based on

Infоrmаtiоn fоr Questions 24 to 27 On Jаnuаry 1, 20X4, Penn acquired 80% of Senn’s $10 par common stock for $950,000. On this date, the fair value of the non-controlling interest was $237,500, and the carrying amount (book value) of Senn’s net assets was $1,000,000. The fair values of Senn’s identifiable assets and liabilities were the same as their carrying amounts except for plant assets (net) with a remaining life of 20 years, which were $100,000 in excess of the carrying amount. For the year ended December 31, 20X4, Senn had net income of $180,000 and paid cash dividends totaling $100,000. When entering your answers,  round the answers to the nearest dollar, enter the answers as numbers with no decimal places and no dollar ($) signs, and enter the numbers with or without the comma separator (e.g., either 28,374 or 28374).  For partial credit, do the following: After stating your answers, show how you arrived at them (e.g., 13,000 [= 7,000 from " " + 6,000 from " "]). Include any explanations or logic you used to arrive at your answers.