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What amount of dividend income should anchor report

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Problem 1: Anchor Co. owns 40% of Main Co.'s common stock outstanding and 75% of Main's noncumulative preferred stock outstanding. Anchor exercises significant influence over Main's operations. During the current period, Main declared dividends of $200,000 on its common stock and $100,000 on its noncumulative preferred stock. What amount of dividend income should Anchor report on its income statement for the current period related to its investment in Main?

A. $75,000

B. $80,000

C. $120,000

D. $225,000

Reference no: EM132722206

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