Accounting for Marketable Equity Securities Assume that Bava Company purchases 23,000 common shares of Jones Company for

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Accounting for Marketable Equity Securities Assume that Bava Company purchases 23,000 common shares of Jones Company for $12 cash per share.

During the year, Bava receives a cash dividend of $1.30 per common share from Jones, and the year-end market price of Jones common stock is $13 per share. How much income does Bava report relating to this investment for the year?

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