accounting 2, multiple choice

Bharat Corporation purchased 50% of Ferris Corporation for $110,000 on January 1. On October 17 of the same year Forris Corporation declared total cash dividends of $22.000. At year-end, Fors Corporation reported net income of $70,000. The balance in the Bharat Corporation's Long Term Investment Ferris account of December 31 should be O O $110,000 O $86,000. O $145,000. O $134,000. O $99,000