On June 30, 2014, Diode Inc. purchased for cash at $50 per share all 150,000 shares of outstanding common stock of Moore Company. Moore's balance sheet at June 30, 2014, showed net assets with a book value of $6,000,000.
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Y3k, inc., has sales of $6,239, total assets of $2,855, and a debt-equity ratio of 1.30. If its return on equity is 15 percent, what is its net income?
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