Multiple Choice
On January 1,2014,Gardner Corporation purchased 25% of the common stock outstanding of Lance Corporation for $260,000.During 2014,Lance Corporation reported net income of $80,000 and paid cash dividends of $40,000.The balance of the Equity-Method Investment account at December 31,2014 is:
A) $260,000.
B) $270,000.
C) $280,000.
D) $290,000.
Correct Answer:
Verified
Correct Answer:
Verified
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