Rocket Corporation purchased 12,000 shares of the voting common stock of Biking Industries in January 2021. In
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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 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:
Multiple Choice
$36,000
$600,000
$0
$12,000
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