REFERENCE: Ref.03_01 On January 1,2009,Cale Corp.paid $1,020,000 to Acquire Kaltop Co.Kaltop Maintained

Multiple Choice

REFERENCE: Ref.03_01
On January 1,2009,Cale Corp.paid $1,020,000 to acquire Kaltop Co.Kaltop maintained separate incorporation.Cale used the equity method to account for the investment.The following information is available for Kaltop's assets,liabilities,and stockholders' equity accounts:
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Kaltop earned net income for 2009 of $126,000 and paid dividends of $48,000 during the year.
-What is the balance in Cale's investment in subsidiary account at the end of 2009?

A) $1,099,000.
B) $1,020,000.
C) $1,096,200.
D) $1,098,000.
E) $1,144,400.