Base Electronics buys 5,000 shares of stock in Blue Mission Company for $10 per share on January 2 of the current year. Base owns 34% of Blue Mission voting stock and intends to hold on to it for several years. On December 31, the end of the current year, Blue Mission had $100,000 in net income. What is the journal entry for Base Electronics to record their share of net income of Blue Mission Company?
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