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Subject: Dividend revenues Pacific Corp acquired 4,000 shares of Agustin, Inc. ordinary shares on Oct 20, 2015 for $660,000. On Nov 30,2017, Agustin distributed a
Subject: Dividend revenues
Pacific Corp acquired 4,000 shares of Agustin, Inc. ordinary shares on Oct 20, 2015 for $660,000. On Nov 30,2017, Agustin distributed a 10% ordinary share dividend when the market price of the stock was $250 per share. On Dec 20,2017, Pacific sold 400 shares of its Agustin stock for $106,000. For the year ended Dec 31, 2017, how much should Pangan report as dividend revenues?
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a. -0- b. $106,000 c.$100,000 d. $46,000
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