weyyanat, Accounting Principles 12e Hela I System Announcements Unread) mment Brief Exercise 16-3 Noler Company owns 25% of Lauer Company. For the current year, Laver reports net income of $220,000 and declares and pays a $44,000 cash dividend. Record Noler's equity in Lauer's net income and the receipt of dividends from Lauer. (Credit account titles are automatically indented when amount is entered. Do not indent manually. I no entry is required, select "No entry for the account cities and enter for the amounts) Debit Credit Date Account Tities and Explanation Dec. 31 To record equity in Pane's net income) Dec. 31 (to record dividends received HOW LIST OF ACCOUNTS LINK TO TEXT Question Attempts of 3 used c onsc 2000-2020 John Wilsons, Inc. All Rights Reserved. A Division of MacBook Pro