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Teal reported net income of 110000 for 2002 and paid

Question - Gaw Company owns 15% of the common stock of Teal Corporation and used the fair-value method to account for this investment. Teal reported net income of $110,000 for 2002 and paid dividends of $60,000 on October 1, 2002. How much income should Gaw recognize on this investment in 2002?

A) $16,500

B) $9,000

C) $25,500

D) $7,500

E) $50,000

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Accounting Basics: Teal reported net income of 110000 for 2002 and paid

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Accounting Basics: Teal reported net income of 110000 for 2002 and paid

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