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On January 2,20x1, Boren Company bought 15 percentages of Cove Company's common stock for $60,000...

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Accounting

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On January 2,20x1, Boren Company bought 15 percentages of Cove Company's common stock for $60,000 and classified it as available-for-sale securities. Cove's net income for the years ended December 31,20x1 and 20x2, 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, 20x2, the fair value of the Cove common stock owned by Boren had increased to $90,000. How much should Boren show on its 20x2 income statement as income from this investment

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