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On January 12, 2019, Orange company purchased 5,000 Shares of Yellow company, for $1,200,000. The 5,000...

On January 12, 2019, Orange company purchased 5,000 Shares of Yellow company, for $1,200,000. The 5,000 shares represented 40% of Yellow's total outstanding voting shares.

This enabled Orange to gain a significant influence over Yellow's operations.

During 2019 Yellow reported Income of $150,000 and paid dividends of $60,000

On January 12th, 2020 Orange sold 1,000 shares of yellow for $300,000

During 2021Yellow reported income of $200,000 and paid dividends of $80,000

On January 12th, 2021 Orange sold another 1,000 shares of Yellow stock for $320,000

Calculate the gain/loss on the sale of stock in 2020 and 2021 (show separately) and what is the balance in the investment account after the second sale?

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