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QUESTION
Stone Co. owns 4,000 of the 10,000 outstanding shares of Maye Corp. common stock. During 2007, Maye earns $120,000 and pays cash dividends of $40,000....
Stone Co. owns 4,000 of the 10,000 outstanding shares of Maye Corp. common stock. During 2007, Maye earns $120,000 and pays cash dividends of $40,000. Stone should report investment revenue for 2007 ofa. $16,000.b. $32,000.c. $40,000.d. $48,000.
