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QUESTION 17 ABG Corp. bought 75,000 shares of the voting common stock of XYZ Company in January 2021. In December, XYZ announced $200,000 net income
QUESTION 17 ABG Corp. bought 75,000 shares of the voting common stock of XYZ Company in January 2021. In December, XYZ announced $200,000 net income for 2021 and declared and paid a cash dividend of $2 per share on all 200,000 shares of its outstanding common stock. ABC's income statement for the year ended December 31, 2021 would reflect dividend income from XYZ of: $0 $400,000 $200,000 $150,000
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