Required information [The following information applies to the questions displayed below.] Part 1 of 3 XYZ declared a $1 per share dividend on August 15. The date of record for the dividend was September 1 (the stock began selling ex-dividend on September 2). The dividend was paid on September 10. Ellis is a cash-method taxpayer. Determine the economic income and the amount he must include in gross income under the following independent circumstances. points a. Ellis bought 100 shares of XYZ stock on August 1 for $21 per share. Ellis received a $100 dividend on September 10. Ellis still owns the shares at year-end. eBook Print Economic Income Amount included in Gross Income References