Sunland Company owns 29000 of the 50000 outstanding shares of Taylor, Inc. common stock. During 2021, Taylor earns $1320000 and pays cash dividends of $1050000. Sunland should report investment revenue for 2021 of $765600. $609000. $0. $156600.

Sunland Company owns 29000 of the 50000 outstanding shares of Taylor, Inc. common stock. During 2021, Taylor earns $1320000 and pays cash dividends of $1050000. Sunland should report investment revenue for 2021 of $765600. $609000. $0. $156600.

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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Question

Sunland Company owns 29000 of the 50000 outstanding shares of Taylor, Inc. common stock. During 2021, Taylor earns $1320000 and pays cash dividends of $1050000.

Sunland should report investment revenue for 2021 of

$765600.

$609000.

$0.

$156600.

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