Berger Corporation Paid $800,000 for 100,000 Shares of Oakley Company's

Multiple Choice

Berger Corporation paid $800,000 for 100,000 shares of Oakley Company's common stock, which represents 40% of Oakley's outstanding common stock. Oakley reported net income of $200,000 and paid cash dividends of $60,000. Berger should report the investment in Oakley Company on its balance sheet at:

A) $800,000.
B) $744,000.
C) $824,000.
D) $856,000.