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9. On January 1, 20X7, Poke Corporation acquired 15 percent of the outstanding shares of Shove Corporation for $150,000 cash. The fair value of shares

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9. On January 1, 20X7, Poke Corporation acquired 15 percent of the outstanding shares of Shove Corporation for $150,000 cash. The fair value of shares held by Poke was $148,000 on December 31, 20x7. During the year Shove Company reported net income of $100,000 and paid dividends of $80,000. Based on the preceding information, what amount will be reported by Poke as income from its investment in Shove for 20X7? OA. $12,000 B. $10,000 OC. $3,000 OD. $15,000

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