Question: May I ask for an explanation and solution to the problem for a better understanding. Thank you! Platinum Corporation bought 160,000 shares of Ore Corporation

May I ask for an explanation and solution to the problem for a better understanding. Thank you!

Platinum Corporation bought 160,000 shares of Ore Corporation for P60 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 P0.80 dividend per share. How much should Platinum report as dividend income?

a. P112,000

b. P56,000

c. P48,000

d. P240,000

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