Brief Exercise 16-03 Clumber Company owns 30% of Lauer Company. For the current year, Lauer reports net income of $160,000 and dedares and pays a $32,000 cash dividend. Record Cullumber's equity in Lauer's net income and the receipt of dividends from Lauer. (Credit account titles are automatically indented when amount is entered by is required, select "No entry for the account titles and enter for the amounts) Date Account Titles and Explanation Debit Credit (To record equity in Lauer's net income) Dec. 31 (To record dividends received x Your answer is incorrect. Try again. Determine the amount to be reported as an investment in Helbert stock at December 31. Investment in Helbert, December 31