On January 1, 20X6, Joseph Company Acquired 80% of Salt

Multiple Choice

On January 1, 20X6, Joseph Company acquired 80% of Salt Company's outstanding stock for cash. The fair value of the noncontrolling interest was equal to a proportionate share of the book value of Salt Company's net assets at the date of acquisition. Selected balance sheet data at December 31, 20X6 are as follows:

-Based on the preceding information,what amount will Joseph Company report as common stock outstanding in its consolidated balance sheet at December 31,20X6?

A) $214,000
B) $150,000
C) $184,000
D) $230,000