Stone Co. owns 4,000 of the 10,000 outstanding shares of Maye Corp. common stock. During 2008, Maye earns $120,000 and pays cash dividends of $40,000.
-If the beginning balance in the investment account was $240,000, the balance at December 31, 2008 should be
A) $240,000.
B) $272,000.
C) $288,000.
D) $320,000.
Correct Answer:
Verified
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