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6.) Integrity Company had the following long-term investments at the beginning of the current year: Investment in A preference shares, 10% P200 par, 5,000 shares
6.) Integrity Company had the following long-term investments at the beginning of the current year: Investment in A preference shares, 10% P200 par, 5,000 shares 1,200,000 Investment in B ordinary shares, 10,000 shares 1,000,000 Investment in C ordinary shares, 3,000 shares 150,000 During the current year, the following transactions were completed: a.) Received 2,000 ordinary shares of B Company in lieu of a cash dividend of P15 per share. On this date, B ordinary share has a quoted market of P85. b.) Received cash dividend of P5 per share from C Company. c.) Received the annual dividend from A Company. Required: Total dividend income for the current year
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