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A company (the investor) purchased 48,000 shares of common stock of the investee for $37 per share on January 2, 2020. The investee had 200,000
A company (the investor) purchased 48,000 shares of common stock of the investee for $37 per share on January 2, 2020. The investee had 200,000 shares of common stock outstanding during 2021, paid cash dividends of $62,000 during 2021, and reported net income of $592,000 for 2021. Using the equity method, the investor company should report revenue from investment for 2021 in the amount of ________________.
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