On January 2, 2020, Fidel Corp. purchased 200 of the 1,000 outstanding common shares of Rindu Ltd. for $ 60,000. During 2020, Rindu declared total cash dividends of $ 10,000 and reported net income for the year of $ 40,000. If Fidel uses the cost model to account for its investment in Rindu, Fidel's Investment in Rindu Ltd. account at December 31, 2020 should be

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Under the cost model, the investment is recorded at cost and is not adjusted for the investee's net income or dividends. Therefore, Fidel Corp.'s Investment in Rindu Ltd. account remains at the initial purchase cost of $60,000 at December 31, 2020.