Exercise 16-7 On January 1, Zabel Corporation purchased a 25% equity in Helbert Corporation for $161,000. At December 31, Helbert declared and paid a $50,800 cash dividend and reported net income of $204,000. Joumalize the transactions. (Credit account titles are automatically indented when amount is entered. Do no indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record dividends received) (To record equity in Helbert Corporation's net income) Determine the amount to be reported as an investment in Helbert stock at December 31. Investment in Helbert, December 31 &