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PLEASE ANSWER. I THINK ANSWER CHOICES MAY BE WRONG! THANK YOU. 15) Moss Corp. owns 20 percent of Dubro Corp's preferred stock and 50 percent
PLEASE ANSWER. I THINK ANSWER CHOICES MAY BE WRONG! THANK YOU.
15) Moss Corp. owns 20 percent of Dubro Corp's preferred stock and 50 percent of its common stock. Dubro's stock outstanding at December 31 , year 1 is as follows: 10%cumulativepreferredstockCommonstock$100,000700,000 Dubro reported net income of $60,000 and paid dividends of $10,000 to its preferred shareholders for the year ended December 31 , Year 1 . How much total revenue should Moss record due to its investment in Dubro a) $22,000 b) $20,000 50,000 c) $70,000 3,000 18,000 d) $50,000 Step by Step Solution
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