Assume that on January 1, 2013, an investor company acquired 100% of the outstanding voting common stock of an investee company. The following financial statement information is for the investor company and the investee company on January 1, 2013, prepared immediately before this transaction.

	Book Values
	Investor	Investee
Receivables & inventories	$100,000	$50,000
Land	200,000	100,000
Property & equipment	225,000	100,000
Total assets	$525,000	$250,000
Liabilities	$150,000	$80,000
Common stock ($2 par)	20,000	10,000
Additional paid-in capital	280,000	150,000
Retained earnings	75,000	10,000
Total liabilities & equity	$525,000	$250,000

Compute the investment account (market value differs from book value) Assume that the fair values of the investee's net assets approximated the recorded book values of the investee's net assets, except the fair value of receivables and inventories is $20,000 higher than book value, the fair value of land is $5,000 lower than book value, the fair value of property and equipment is $20,000 higher than book value and the fair value of liabilities is $7,000 lower than book value. In addition, the transaction resulted in goodwill in the amount of $25,000. What is the balance in the preconsolidation "investment in investee" account on the investor company's books on January 1, 2013, immediately after the acquisition of the investee company voting common stock?

A. Not enough information provided

B. $237,000

C. $170,000

D. $25,000