FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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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
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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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