Use the following information for questions
Caraway Corporation earns $120,000 and pays cash dividends of $40,000 during 2011.Macoon Corporation owns 3,000 of the 10,000 outstanding shares of Caraway and exercises significant influence.
-How much investment income should Macoon report in 2011?
A) $40,000.
B) $24,000.
C) $36,000.
D) $120,000.
Correct Answer:
Verified
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