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Ivanhoe company owns 25% of Lauer company. For the current year, lauer reports net income of $220,000 and declares and pays a $44,000 cash dividend.

Ivanhoe company owns 25% of Lauer company. For the current year, lauer reports net income of $220,000 and declares and pays a $44,000 cash dividend. Record Ivanhoes equity in Lauers net income and the receipt of dividends from Lauer.

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