5. On January 4, 2020, Raleigh Co. purchased 120,000 shares (40%) of the common stock of Greensboro Corp., paying $2,400,000. There was no goodwill or other cost allocation associated with the investment. Raleigh has significant influence over Greensboro. During 2020, Greensboro reported net income of $600,000 and paid dividends of $240,000. On January 2, 2021, Raleigh sold 15,000 shares for $375,000. What was the balance in the investment in sub. account after the shares had been sold? A. $2,169,000 B. $2,775,000 C. $2,283,000 D. $2,544,000 E. $2,226,000