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On January 1, Joey Corporation purchased a 30% equity in XYZ Company for $110,000. At...

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Accounting

On January 1, Joey Corporation purchased a 30% equity in XYZ Company for $110,000. At December 31, xyz declared and paid a $30,000 cash dividend and reported net income of $80,000. As of December 31, what is the balance of the XYZ Company Investment on Joeys Balance Sheet?

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