Upson Corporation uses the equity method to account for its ownership of 30% of the common stock

Question:

Upson uses the equity method to account for its ownership of 30% of the of Holland Packing. During 2014, Holland reported a net income of $80,000 and declares and pays cash dividends of $10,000. What recognition should Upson give to these events?

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...