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How much should Platinum report as dividend income

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Reference no: EM132839686

Question - Platinum Corporation bought 160,000 shares of Ore Corporation for $60 each. One month from purchase, Ore declared a 2-for-1 stock split down. Platinum subsequently sold 20,000 shares. During the last month of the reporting period, Ore declared $0.80 dividend per share. How much should Platinum report as dividend income?

A. $112,000

B. $240,000

C. $48,000

D. $56,000

Reference no: EM132839686

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