On a January 1, Pin purchased 10 percent of Ion companys common stock. Pin purchased additional shares, bringing its ownership up to 40 percent of Ions common stock outstanding, on August 1. During October, Ion declared and paid a cash dividend on all of its outstanding common stock. How much income from the Ion investment should Pins income stamen report for the year ended December 31

Answer rating: 100% (QA)

To determine the income from the Ion investment that Pin should report for the year ended December 3... View the full answer