Multiple Choice
On January 1,2010,Calas Company acquired 40% of the outstanding voting stock of Nick Company as a long-term investment.During 2010,Nick reported net income of $10,000 and declared and paid dividends of $4,000.During 2010,Calas Company should report "Income from investee earnings" of
A) $3,000.
B) $4,000.
C) $2,400.
D) $10,000.
Correct Answer:
Verified
Correct Answer:
Verified
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