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Bernie Corporation earns $78,000 and pays cash dividends of $26,000 during 2007. Glenn Corporation owns 3,000 of the 10,000 outstanding shares of Bernie. What amount

Bernie Corporation earns $78,000 and pays cash dividends of $26,000 during 2007. Glenn Corporation owns 3,000 of the 10,000 outstanding shares of Bernie. What amount should Glenn show in the investment account on December 31, 2007, if the beginning of the year balance in the account was $104,000?

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