Yult Company owns 25% of the common stock of Dent Company and used the equity...
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Accounting
Yult Company owns 25% of the common stock of Dent Company and used the equity method to account for the investment. During 2007, Dent reported income of $220,000 and paid dividends of $20,000. Amortization for 2007 related to this investment was $35,000. For the year ended December 31, 2007, how much income should Yult recognize related to the investment in Dent?
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