The following chart shows ownership percentages of Devon Corp. in X, Y and Z Corporations,...
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Accounting
The following chart shows ownership percentages of Devon Corp. in X, Y and Z Corporations, and dividends received by Devon from these corporations in 20X14. Devons Ownership % Dividend Received X Corp. 15% $100,000 Y Corp. 20% $120,000 Z Corp. 30% $200,000 Devon is a calendar-year corporation and received no other dividends in 20X14. What amount of dividend income must be included by Devon on its 20X14 corporate tax return? $114,000 $94,000 $106,000 $126,000
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