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Determine the amount of investment income reported by speers

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Problem 1: Speers Corporation owns 40% of Queens Company, which Speers originally purchased at the beginning of the year for $300,000. Queens earned $30,000 income during the year and distributed cash dividends of $5,000. Determine the amount of investment income reported by Speers for the year.

a) $5,000

b) $30,000

c) $14,000

d) $2,000

e) $12,000

Reference no: EM132743748

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