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George company owns 15 of the common stock of thomas

Question - George Company owns 15% of the common stock of Thomas Corporation and used the fair-value method to account for this investment. Thomas reported net income of $110,000 for the year 20x1 and paid dividends of $60,000 on October 1, 20x1. How much income should George recognize on this investment in 20x1?

$16,500

$9,000

$25,500

$7,500

$60,000

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Accounting Basics: George company owns 15 of the common stock of thomas

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