Gilman Company Purchased 100,000 of the 250,000 Shares of Common

Gilman Company purchased 100,000 of the 250,000 shares of common stock of Burke Corporation on January 1, 20X0, at $40 per share as a long-term investment. The records of Burke Corporation showed the following on December 31, 20X0: $$\begin{array} { | l | r | } \hline \text { Net income } & \$ 575,000 \\\hline \text { Dividends declared and paid during December 20X0 } & \$ 30,000 \\\hline \text { Market price per share } & \$ 42.00 \\\hline\end{array}$$
-How much should Gilman Company report as investment income from the Burke investment during 20X0?

A) $230,000
B) $218,000
C) $12,000
D) $30,000