Young Co. acquired a 60% interest in Tomlin Corp. on December 31, 2007 for $945,000. During 2008, Tomlin had net income of $600,000 and paid cash dividends of $150,000. At December 31, 2008, the balance in the investment account should be
A) $945,000.
B) $1,305,000.
C) $1,215,000.
D) $1,395,000.
Correct Answer:
Verified
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