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Rocket Corporation purchased 12,000 shares of the voting common stock of Biking Industries in January 2021. In December, Biking announced $750,000 of net income for

Rocket Corporation purchased 12,000 shares of the voting common stock of Biking Industries in January 2021. In December, Biking announced $750,000 of net income for 2021 and declared and paid a cash dividend of $3 per share on all 200,000 shares of its outstanding common stock. Rocket Corporation's dividend revenue from Biking Industries in December 2021 would be:

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  • $36,000

  • $600,000

  • $0

  • $12,000

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