3. Fellingham Company purchased 200 of the 1,000 outstanding shares of Bing Company's common stock for $60,000 on January 2, x1. During x1, Bing Company declared dividends of $10,000 and reported earnings for the year of $40,000. If Fellingham Company uses the equity method of accounting for its investment in Bing Company, its Investment in Bing Company account at December 31, x1 should be Select one: a. $66,000. b. $58,000. c. $60,000. d. $68,000.