On January 1, 20X4, Turtle Inc

Multiple Choice

On January 1, 20X4, Turtle Inc. bought 30% of the outstanding shares of Shell Corporation at a cost of $150,000. The equity method of accounting for this investment is used. During 20X4, Shell Corporation reported $40,000 of net earnings and paid $5,000 in cash dividends. At the end of 20X4, the shares had a market value of $160,000.
-What investment balance will be reported on Turtle's December 31, 20X4 statement of financial position?

A) $150,000
B) $160,000
C) $160,500
D) $162,000