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On January 1, 2016, Jones Company bought 5000 shares of ABC company stock. This represents 15% of the shares available from ABC Company. Jones paid

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On January 1, 2016, Jones Company bought 5000 shares of ABC company stock. This represents 15% of the shares available from ABC Company. Jones paid $5.00 per share for the stock. During 2016, ABC earned $50,000 in net income: Paid total dividends of $20,000: and had the same number of shares available. Jones Share of dividends from ABC is: a $1.000 b. $3,000 C. 55,000 d. $20,000

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