Parris Corporation Purchased 40% of Samitz Corporation for $100,000 on January

Multiple Choice

Parris Corporation purchased 40% of Samitz Corporation for $100,000 on January 1.On November 17 of the same year,Samitz Corporation declared total cash dividends of $12,000.At year-end,Samitz Corporation reported net income of $60,000.The balance in the Parris Corporation's Long-Term Investment in Samitz Corporation at December 31 should be:

A) $80,800
B) $100,000
C) $95,200
D) $119,200
E) $124,000