On January 1, 2016, Toppers Corp

Multiple Choice

On January 1, 2016, Toppers Corp.purchased 25% of the common shares of Great Lakes Corp.for $400,000.During 2016, Great Lakes Corp.reported profits of $60,000 and paid total cash dividends of $12,000.The balance in the Investment in Associates (Great Lakes) account on Toppers' books at December 31, 2016 is

A) $460,000.
B) $415,000.
C) $412,000.
D) $400,000.