GNK Corp. purchased $30,000$ shares of the $100,000$ outstanding shares of Bonita Corp. for $$5\mathrm{.}00$ per share. During the year, Bonita Corp. reported $$60,000$ of net income and paid $$20,000$ in dividends. On $12/31/2012,$ the value of Bonita Corp.$\text{'}$s stock is $$5\mathrm{.}00$ per share. What is the amount of income recorded in $2012$ by GNK as a result of its investment in Bonita?$$

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To calculate the amount of income recorded in 2012 by GNK as a result of its ... View the full answer