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Wilco acquires 150,000 of the 1,000,000 shares of Seminole Corporation on January 1, 2022, for $1,500,000. Seminole reports $10,000,000 of net income in 2022 and
Wilco acquires 150,000 of the 1,000,000 shares of Seminole Corporation on January 1, 2022, for $1,500,000. Seminole reports $10,000,000 of net income in 2022 and paid $2 per share in dividends. What amount of income will Wilco report on this investment? $1,500,000$1,350,000$1,650,000$300,000
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