Business, 31.03.2020 17:18 samtrevino9921

On January 1, Year 1, Grade Company paid $300,000 for 20,000 shares of Medium Company's common stock, which represents a 15% investment in Medium. Grade does not have the ability to exercise significant influence over Medium. Medium declared and paid a dividend of $1 a share to its stockholders during Year 1. Medium reported net income of $260,000 for the year ended December 31, Year 1, and had a market value of $300,000 at December 31, Year 1. The balance in Grade's balance sheet account "Investment in Medium Company" at December 31, Year 1, should be

a) $280,000.

b) $300,000.

c) $319,000.

d) $339,000.

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On January 1, Year 1, Grade Company paid $300,000 for 20,000 shares of Medium Company's common stock...

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