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What is amount of dividend income to be presented in profit

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Problem 1: On January 1, 2003, Nikita Company acquired 12,500 of the outstanding common shares of Nayn Corporation shares at $40 per share. Nayn Corp. had a total of 62,500 shares outstanding on the same date. Nayn Corp. declared total dividends of $20,000 to shareholders on December 20, 2003 and reported a net income of $150,000 for 2003. What is the amount of dividend income to be presented in profit or loss for the year ended December 31, 2003?

Reference no: EM132913810

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