REFERENCE: Ref.03_03 Cashen Co.paid $2,400,000 to Acquire All of the Common Stock

REFERENCE: Ref.03_03
Cashen Co.paid $2,400,000 to acquire all of the common stock of Janex Corp.on January 1,2009.Janex's reported earnings for 2009 totaled $432,000,and it paid $120,000 in dividends during the year.The amortization of allocations related to the investment was $24,000.Cashen's net income,not including the investment,was $3,180,000,and it paid dividends of $900,000.
-On the consolidated financial statements,what amount should have been shown for Equity in Subsidiary Earnings?

A) $432,000.
B) $-0-.
C) $408,000.
D) $120,000.
E) $312,000.