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Sheridan Corporation purchased 43020 shares of common stock of the Splish Corporation for $50 per share on January 2, 2022. During 2022, Splish Corporation had 143400 shares of common stock outstanding, paid cash dividends of $120100, and reported net income of $321800. Sheridan Corporation should report revenue from investment for 2022 in the amount of O $60510. O $0. O $36030. O $96540.

Sheridan Corporation purchased 43020 shares of common stock of the Splish Corporation for $50 per share on January 2, 2022. During 2022, Splish Corporation had 143400 shares of common stock outstanding, paid cash dividends of $120100, and reported net income of $321800. Sheridan Corporation should report revenue from investment for 2022 in the amount of O $60510. O $0. O $36030. O $96540.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sheridan Corporation purchased 43020 shares of common stock of the Splish Corporation for $50 per share on January 2, 2022. During 2022, Splish Corporation had 143400 shares of common stock outstanding, paid cash dividends of $120100, and reported net income of $321800. Sheridan Corporation should report revenue from investment for 2022 in the amount of O $60510. O $0. O $36030. O $96540.
Transcribed Image Text:Sheridan Corporation purchased 43020 shares of common stock of the Splish Corporation for $50 per share on January 2, 2022. During 2022, Splish Corporation had 143400 shares of common stock outstanding, paid cash dividends of $120100, and reported net income of $321800. Sheridan Corporation should report revenue from investment for 2022 in the amount of O $60510. O $0. O $36030. O $96540.
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