Use the Following Information for Questions $£ 2,400,000$ And Paid Cash Dividends Of

Use the following information for questions . Desmond Corporation owns 3,000 of the 10,000 outstanding ordinary shares of Wetmore Corporation. During 2011, Wetmore earned $£ 2,400,000$ and paid cash dividends of $£ 800,000$ .
-What balance should Desmond report on its December 31, 2011 statement of financial position for the investment account if the beginning of the year balance in the account was $£ 3,200,000 ?$

A) $\quad £ 3,920,000$ .
B) $\quad £3,200,000$ .
C) $\quad £ 3,680,000$ .
D) $\quad £ 4,800,000$ .