55 Umniah @ 187% 6:52 PM Reader View Available On January 1, 2014, X Company acquired a 30% interest in Y Corporation for $150,000 when Y's stockholders' equity consisted of $400,000 capital stock and $100,000 retained earnings. Book values of Y's net assets equaled their fair values on this date. Y's net income and dividends for 2014 through 2016 were as follows: 2014 2016 2015 Net income $ 10,000 $ 12,000 $16,000 Dividends paid 1,000 5,000 4,000 Assume that X used the cost method of accounting for its investment in Y. What is the balance in the Investment in Y account at December 31, 2016? Select one: a. 178000 b. 53400 c. 157800 d. 188000 e. 150000