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What amount of income or loss that is attributable to stock

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Question - During Year 1, Wistrand Corporation purchased 12,000 shares of the 800,000 outstanding shares of Cherry Corporation's common stock for $76000. At the end of Year 1, Wistrand received $2840 of dividends from its investment in Cherry's stock. The fair value of Wistrand's investment on December 31, Year 1, is $94560. What amount of income or loss that is attributable to the Cherry stock investment should be reflected in Wistrand's earnings for Year 1?

Reference no: EM132818197

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