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Kayser Company owns 25% of Plano Company. For the current year, Plano reports a net income of 190,000 and declares and pays a 40,000 cash

Kayser Company owns 25% of Plano Company. For the current year, Plano reports a net income of €190,000 and declares and pays a €40,000 cash dividend. Record Kayser's equity in Plano's net income and the receipt of dividends from Plano. 

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