(Learning Objective 3: Account for the sale of an equity-method investment) Use the data given in…

(Learning Objective 3: Account for the sale of an equity-method investment) Use the data given in…

(Learning Objective 3: Account for the sale of an equity-method investment) Use the data given in S8-3. Assume that on January 1, 2015, Sperrey Motors sold half its investment in Phase Motors. The sale price was $115 million. Compute Sperrey Motors’ gain or loss on the sale.

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