Bharrat Corporation purchased 30% of Ferris Corporation for $120,000 on January 1. On October 17 of the same year, Ferris Corporation declared total cash dividends of $32,000. At year-end, Ferris Corporation reported net income of $80,000. The balance in the Bharrat Corporation's Long-Term Investment-Ferris account at December 31 should be: $134,400. $105,600. $120,000. $144,000. $110,400.