On January 1, 2017, the Express Corporation Purchased 30% of the Common

Multiple Choice

On January 1, 2017, the Express Corporation purchased 30% of the common stock outstanding of the Bangor Corporation for $300,000. During 2017, the Bangor Corporation reported net income of $120,000 and paid cash dividends of $30,000. The balance of the Stock Investments-Bangor account on the books of Express Corporation at December 31, 2017, is

A) $300,000.
B) $330,000.
C) $420,000.
D) $327,000.