Question: J tue eisactions described above. Prepare E16-7 On January 1, Zabel Corporation purchased a 25% equity in Helbert Corporation Jol for $180,000. At December 31,

J tue eisactions described above. Prepare E16-7 On January 1, Zabel Corporation purchased a 25% equity in Helbert Corporation Jol for $180,000. At December 31, Helbert declared and paid a $60,000 cash dividend and tra reported net income of $200,000. Instructions (a) Journalize the transactions. (b) Determine the amount to be reported as an investment in Helbert stock at December 31. ne (L

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