M.T. Glass, Inc. purchased the following investments on January 1, 2028: 1. 21,000 shares (representing...
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M.T. Glass, Inc. purchased the following investments on January 1, 2028: 1. 21,000 shares (representing 42%) of AA Company stock for $546,000 2. 18,000 shares (representing 9%) of ZZ Company stock for $306,000 AA Company and ZZ Company reported the following information for the years 2028 and 2029: 2028: AA Company ZZ Company Net income $140,000 $225,000 Total dividends paid $ 78,000 $ 53,000 Market value at Dec 31 $33 per share $22 per share 2029: AA Company ZZ Company Net income $210,000 $280,000 Total dividends paid $ 90,000 $125,000 Market value at Dec 31 $35 per share $23 per share Calculate the amount of dividend revenue shown in M.T. Glass, Inc.'s 2029income statement for these two investments.
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