On January 2,2018,Surfside Co

Multiple Choice

On January 2,2018,Surfside Co.purchased 12,000 shares of Sand,Inc.for $240,000.The investment represented 12% of Sand's outstanding shares.On December 31,2018 each share of Sand was selling for $19 per share and on December 31,2019 each share of Sand was selling for $23 per share
-.Sand declared and paid dividends totaling $20,000 in 2018 and 2019.What was the total amount reported on the income statement in 2019 by Surfside for its investment in Sand?

A) $38,400.
B) $50,400.
C) $2,400.
D) $45,600.