On January 2, 2017, Pfizer Co

question 19

Multiple Choice

On January 2, 2017, Pfizer Co. purchased 22% of Wiley Company's voting stock for $150,000. During 2017, Wiley recorded income of $102,000 and paid total dividends of $27,000. Pfizer uses the equity method to account for this investment. What is Pfizer's income from the Wiley investment?

• A)$27,000
• B)$28,380
• C)$22,440
• D)$33,000

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Definitions:

Shade Trees

Large trees planted specifically to provide shade and reduce heat in surrounding areas, often enhancing comfort and energy efficiency.

Sand Dunes

Natural accumulations of sand typically found in deserts and on beaches, shaped by the wind or water flow.

Vegetable Beds

Designated areas in a garden where vegetables are planted and grown.

Wooden Fence

A barrier, railing, or other upright structure made of wood, enclosing an area of ground to prevent or control access or escape.