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On January 2,201, Boren Company bought 15 percentages of Cove Company's common stock for $60,000 and classified it as trading securities. Cove's net income for

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On January 2,201, Boren Company bought 15 percentages of Cove Company's common stock for $60,000 and classified it as trading securities. Cove's net income for the years ended December 31,201 and 202, were $20,000 and $100,000, respectively. During 202, Cove declared a dividend of $150,000. No dividends were declared in 201. On December 31,202, the fair value of the Cove common stock owned by Boren had increased to $90,000. How much should Boren show on its 202 income statement as income from this investment

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