Cashen Co Paid $2,400,000 to Acquire All of the Common Stock

Multiple Choice

Cashen Co. paid $2,400,000 to acquire all of the common stock of Janex Corp. on January 1, 2010. Janex's reported earnings for 2010 totaled $432,000, and it paid $120,000 in dividends during the year. The amortization of allocations related to the investment was $24,000. Cashen's net income, not including the investment, was $3,180,000, and it paid dividends of $900,000.
-On the consolidated financial statements for 2010, what amount should have been shown for Equity in Subsidiary Earnings?

A) $432,000.
B) $-0-.
C) $408,000.
D) $120,000.
E) $288,000.