On January 2, 2024, Sanborn Tobacco Incorporated bought 5% of Jackson Industry’s capital stock for $92 million. Jackson Industry’s net income for the year ended December 31, 2024, was $122 million. The fair value of the shares held by Sanborn was $102 million at December 31, 2024. During 2024, Jackson declared a dividend of $62 million. 2. Assume that Sanborn sold the stock on January 2, 2025 for $114 million. Prepare the journal entries Sanborn would use to record the sale. Record the entry to adjust to fair value on the date of sale. Record the sale of stock on January 2, 2025 for $114 million.

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Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.