Gardens, Inc $$\begin{array} { | l | r | r | } \hline \text { Common Stock - Gardens } & 120,400 & \\\hline \text { Cash } & & 120,400 \\\hline\end{array}$$

Gardens, Inc. invests its excess cash in Innovative Technologies, Inc. and acquires 4300 shares for $28.00 per share. Garden, Inc. owns less than 3% of Innovative's voting stock and plans to hold the stock for two years. Which of the following is the correct journal entry for the transaction?

A) $$\begin{array} { | l | r | r | } \hline \text { Common Stock - Gardens } & 120,400 & \\\hline \text { Cash } & & 120,400 \\\hline\end{array}$$
B) $$\begin{array} { | l | r | r | } \hline \text { Cash } & 120,400 & \\\hline \text { Equity Investments } & & 120,400 \\\hline\end{array}$$
C) $$\begin{array} { | l | r | r | } \hline \text { Cash } & 120,400 & \\\hline \text { Common Stock - Gardens } & & 120,400 \\\hline\end{array}$$
D) $$\begin{array} { | c | r | r | } \hline \text { Equity Investments } & 120,400 & \\\hline \text { Cash } & & 120,400 \\\hline\end{array}$$