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M & M Co. owns 5,600 of the 14,000 outstanding shares of Holly Corp. common stock and exercises significant influence over the company. During 2019,
M & M Co. owns 5,600 of the 14,000 outstanding shares of Holly Corp. common stock and exercises significant influence over the company. During 2019, Holly earns $90,000 and pays cash dividends of $25,000. If the beginning balance in the investment account was $190,000, the balance at December 31, 2019 should be:
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