On January 1, 2018, Bangle Company purchased 30% of the voting common stock of Sleat Corp.for $1,000,000.Any excess of cost over book value was assigned to goodwill.During 2018, Sleat paid dividends of $24,000 and reported a net loss of $140,000.What is the balance in the investment account on December 31, 2018?

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The correct answer is A.The investment account balance is $950,800. This is calculated as follows:Initial investment: $1,000,000Dividends received: $24,000Net loss: $140,000Goodwill: $0 (since any excess of cost over book value was assigned to goodwill)Investment account balance: $1,000,000 + $24,000 - $140,000 = $950,800

On January 1, 2018, Bangle Company Purchased 30% of the Voting