Use the Following Information to Solve the Following Questions

Use the following information to solve the following questions:
Red Corp. owns 3,000 of the 10,000 outstanding common shares of Grey Corp. and exercises significant influence. During 2020, Grey reported net income of $ 120,000 and paid total cash dividends of $ 40,000.
-Red Corp. should report investment revenue for 2020 of

A) $ 12,000.
B) $ 24,000.
C) $ 36,000.
D) $ 48,000.

Correct Answer:

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