On January 1, 2014, the Express Corporation Purchased 30% of the Common

Multiple Choice

On January 1, 2014, the Express Corporation purchased 30% of the common stock outstanding of the Bangor Corporation for $200,000. During 2014, the Bangor Corporation reported net income of $80,000 and paid cash dividends of $20,000. The balance of the Stock Investments-Bangor account on the books of Express Corporation at December 31, 2014, is

A) $200,000.
B) $220,000.
C) $280,000.
D) $218,000.