3. Parris Corporation purchased 40% of Samitz Corporation for $100,000 on January 1. On November 17 of the same year, Samitz Corporation declared total cash dividends of $12,000. At year-end, Samitz Corporation reported net income of $60,000. The balance in the Parris Corporations Long-Term Investment in Samitz Corporation at December 31 should be: A. $80,800 B. 100,000 C. 95,200 D. 119,200 E. 124,000