5.

Clumber Company owns 30% of Lauer Company. For the current year, Lauer reporte net income of $160,000 and dedores and pays a $32,000 cash dividend. Record Culhamber's equity in Lauer's net income and the receipt of dividende from Lett (Credit account titles are automatically indented when amount is entered. De set indent manually. - Date Account Titles and Explanation Dec. 31 Debat Credit To record equity in Lauer's net income) Dec. 31 To record Gidendis receved)