Daniel Company Purchased 30% of the Outstanding Shares of Clooney

Multiple Choice

Daniel Company purchased 30% of the outstanding shares of Clooney Corporation on January 1 at a cost of $600,000.Clooney Corporation reported net income of $95,000 and paid total dividends of $25,000 for the year.At the end of the year,Clooney shares had a current fair value of $590,000.After all necessary adjusting entries are made for the year,the balance in Daniel Company's Equity-Method Investment account will be:

A) $590,000.
B) $621,000.
C) $628,500.
D) $638,500.