Copper Company Purchased 40% of the Common Stock of York $\begin{array}{lr}2014 \text { net income } & \$ 290,000 \\\text { Dividends declared and paid during December, 2014 } & \$ 20,000\end{array}$

question 42

Multiple Choice

Copper Company purchased 40% of the common stock of York Corporation on January 1, 2014, for $2,000,000 as a long-term investment. The records of York Corporation showed the following on December 31, 2014: $\begin{array}{lr}2014 \text { net income } & \$ 290,000 \\\text { Dividends declared and paid during December, 2014 } & \$ 20,000\end{array}$ How much investment income should Copper report from the York investment during 2014?

• A) $290,000.
• B) $108,000.
• C)$116,000.
• D)$8,000.

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