Daniel Company Purchased 34% of the Outstanding Shares of Clooney

Multiple Choice

Daniel Company purchased 34% of the outstanding shares of Clooney Corporation on January 1 at a cost of $620,000.Clooney Corporation reported net income of $93,000 and declared and paid total dividends of $20,000 for the year.At the end of the year,Clooney shares had a current fair value of $614,000.After all necessary adjusting entries are made for the year,the balance in Daniel Company's Equity-method Investment account will be:

A) $614,000.
B) $644,820.
C) $693,000.
D) $687,000.