Isle Royale Inc. bought 22,500 shares of the voting common stock of Lake Clark Company in January 2023. In December, Lake Clark Company announced $202,900 net income for 2023 and declared and paid a cash dividend of $8.00 per share on all 202,000 shares of its outstanding common stock. Calculate Isle Royale Inc.'s dividend revenue from Lake Clark Company in December 2023. O $180,000 O $22,600 ○ $0 O $1,616,000
Isle Royale Inc. bought 22,500 shares of the voting common stock of Lake Clark Company in January 2023. In December, Lake Clark Company announced $202,900 net income for 2023 and declared and paid a cash dividend of $8.00 per share on all 202,000 shares of its outstanding common stock. Calculate Isle Royale Inc.'s dividend revenue from Lake Clark Company in December 2023. O $180,000 O $22,600 ○ $0 O $1,616,000
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA2: Investments
Section: Chapter Questions
Problem 25E
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Question
(Give the exaplanation of formula and concept.do not provide plagarised content otherwise i dislike)
![Isle Royale Inc. bought 22,500 shares of the voting common stock of Lake
Clark Company in January 2023. In December, Lake Clark Company
announced $202,900 net income for 2023 and declared and paid a cash
dividend of $8.00 per share on all 202,000 shares of its outstanding
common stock. Calculate Isle Royale Inc.'s dividend revenue from Lake
Clark Company in December 2023.
O $180,000
O $22,600
○ $0
O $1,616,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff5677108-d446-4a1c-ba8b-2eef73268064%2Fa66145a1-718e-43a2-b3b7-0d2644371cc2%2Ffot493_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Isle Royale Inc. bought 22,500 shares of the voting common stock of Lake
Clark Company in January 2023. In December, Lake Clark Company
announced $202,900 net income for 2023 and declared and paid a cash
dividend of $8.00 per share on all 202,000 shares of its outstanding
common stock. Calculate Isle Royale Inc.'s dividend revenue from Lake
Clark Company in December 2023.
O $180,000
O $22,600
○ $0
O $1,616,000
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