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How much income does Wasley report

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Question - Accounting for Passive Investments in Equity Securities - Assume that Wasley Company purchases 8,000 common shares of Pincus Company for $12 cash per share. Shares of Pincus Company are actively traded. During the year, Wasley receives a cash dividend of $1.10 per common share from Pincus, and the year-end market price of Pincus common stock is $13 per share. How much income does Wasley report relating to this investment for the year?

Reference no: EM133147218

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