What amount should wood report as dividend income in its 2010 income statement

Question 18 Not yet Brad Co. owns 2,000 shares of Pet Inc.'s 20,000 shares of P100 par, 6% cumulative, answered nonparticipating preferred stock and 1,000 shares (2%) of Pet's common stock. During Marked out of 2010, Arlo declared and paid dividends of P240,000 on preferred stock. No dividends 1.00 had been declared or paid during 2009. In addition, Wood received a 5% common Flag stock dividend from Arlo when the quoted market price of Arlo's common stock was P10 question per share. What amount should Wood report as dividend income in its 2010 income statement? Select one: a. P24,000 b. P12.500 C. P24.500 d_p12 000 Next page