Outstanding shares of penn corporation common stock

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Reference no: EM13826864

Tracy Company owns 4,000 of the 10,000 outstanding shares of Penn Corporation common stock. During 2015, Penn earns $300,000 and pays cash dividends of $100,000.

If the beginning balance in the investment account was $600,000, the balance at December 31, 2015 should be

a. $600,000.

b. $680,000.

c. $720,000.

d. $800,000.

Tracy should report investment revenue for 2015 of

a. $40,000.

b. $80,000.

c. $100,000.

d. $120,000.

Reference no: EM13826864

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