ite 114/12 CALCULATOR FULL SCREEN PRINTER VERSIONBACK NEXT Brief Exercise 16-03 Carla Vista Company owns 30% of Lauer Company. year, Lauer Record Carla Vista's equity in Lauer's net income manually. If no entry Is required, select "No entry" for the account titles and enter 0 for the amounts.) For the current year, Lauer reports net income of $245,000 and declares and pays a $49,000 cash dividend. and the receipt of dividends from Lauer. (Credit account titles are automatically Indented when amount is entered. Do not indent Date Account Titles and Explanation Debit Credit Dec. 31 To record equity in Lauer's net income) Dec. 31 To record dividends received)