On January 1,2008,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 2008,Sleat paid dividends of $24,000 and reported a net loss of $140,000.What is the balance in the investment account on December 31,2008?
A) $950,800.
B) $958,000.
C) $836,000.
D) $990,100.
E) $956,400.
Correct Answer:
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