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Albert Co. acquired 4,000 shares of Nolan, Inc., common stock on October 20, Year 2, for $66,000. On November 30, Year 4, Nolan distributed a
| Albert Co. acquired 4,000 shares of Nolan, Inc., common stock on October 20, Year 2, for $66,000. On November 30, Year 4, Nolan distributed a 10% common stock dividend when the market price of the stock was $25 per share. On December 20, Year 4, Albert sold 400 shares of its Nolan stock for $10,600. For the year ended December 31, Year 4, how much should Albert report as dividend revenue? | |
| A. | $4,600 |
| B. | $10,000 |
| C. | $10,600 |
| D. | $0 |
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