Barry Corporation earns $240,000 and pays cash dividends of $80,000 during 2008. Glenon Corporation owns 3,000 of the 10,000 outstanding shares of Barry.
-How much investment income should Glenon report in 2008?
A) $80,000
B) $72,000
C) $48,000
D) $240,000
Correct Answer:
Verified
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