Stone Co. owns 4,000 of the 10,000 outstanding shares of Maye Corp. common stock. During 2008, Maye earns $120,000 and pays cash dividends of $40,000.
-Stone should report investment revenue for 2008 of
A) $16,000.
B) $32,000.
C) $40,000.
D) $48,000.
Correct Answer:
Verified
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