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Romeo company purchased 150000 shares 5% ownership of Blue company on January 14, 2022. Romeo...

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Accounting

Romeo company purchased 150000 shares 5% ownership of Blue company on January 14, 2022. Romeo received a share dividend of 8% on March 31, 2022 when the market price of share is $25. On December 14, 2022, Romeo received a cash dividend of $20 per share. In the statement of comprehensive income for the year ended Dec 31, 2022 what amount should Romeo report as dividend income? no face amount given

Answer: 3150000

Please state a comprehensive and detailed solution.

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