Question: Spock Corporation uses the equity method to account for its ownership of 30% of the common stock of English Packing. During 2012, English reported a

Spock uses the equity method to account for its ownership of 30% of the of English Packing. During 2012, English reported a net income of $80,000 and declares and pays cash dividends of $10,000. What recognition should Spock give to these events?

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