25) ABC Corporation purchased 30,000 shares of common stock of the XYZ, Inc. for $50 per share on January 2, 2020. XYZ Inc. had 100,000 shares of common stock outstanding during 2021, paid cash dividends of $180,000 during 2021, and reported net income of $550,000 for 2021. ABC Corporation should report revenue from investment for 2021 in the amount of?
25) ABC Corporation purchased 30,000 shares of common stock of the XYZ, Inc. for $50 per share on January 2, 2020. XYZ Inc. had 100,000 shares of common stock outstanding during 2021, paid cash dividends of $180,000 during 2021, and reported net income of $550,000 for 2021. ABC Corporation should report revenue from investment for 2021 in the amount of?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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25) ABC Corporation purchased 30,000 shares of common stock of the XYZ, Inc. for $50 per share on January 2, 2020. XYZ Inc. had 100,000 shares of common stock outstanding during 2021, paid cash dividends of $180,000 during 2021, and reported net income of $550,000 for 2021. ABC Corporation should report revenue from investment for 2021 in the amount of?
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