show the proper solution in a good accounting form. Transcribed Image Text: Martin Company provided the following data for the current year: -On March 1, Martin received P600,000 cash dividend

show the proper solution in a good accounting form. Transcribed Image Text: Martin Company provided the following data for the current year: -On
March 1, Martin received P600,000 cash dividend from Paul Company in
which Martin owns 30% interest. -Martin owns 12% interest in James
Company, which declared and paid P3,000,000 cash dividend on
December 15. – On September 1, Martin received an P80,000 liquidating
dividend from Luke Company. Martin owns a 5% interest in Luke Company.
amount should Martin Company report as dividend income for the
current year? *
Your answer

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