On January 1,2015,Julia Company Acquired 80 Percent of the Outstanding

Multiple Choice

On January 1,2015,Julia Company acquired 80 percent of the outstanding shares of Harkins Company for $120.At the time of the acquisition,Harkins Company's total assets were $550 and total liabilities were $400.What is the balance in the Investment in Harkins Company account on the consolidated balance sheet immediately after the acquisition of Harkins Company's stock? (Assume elimination entries are completed.)

A) $0
B) $120
C) $190
D) $440