3. M & M Co. owns 4,000 of the 10,000 outstanding shares of Holly Corp....
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3. M & M Co. owns 4,000 of the 10,000 outstanding shares of Holly Corp. common stock and exercises significant influence over the company. During 2019, Holly earns $80,000 and pays cash dividends of $30,000. For the year ended December 31, 2019. Olivia should report income related to the investment equal to
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