On January 1, Cullumber Corporation purchased a 25% equity investment in Shane Corporation for $160,100. At December 31, Shane declared and paid a $80,200 cash dividend and reported net income of $358,400.

On January 1. Cullumber Corporation purchased a 25% equity investment in Shane Corporation for $160.100. At December 31 , Shane declared and paid a $80,200 cash dividend and reported net income of $358.400