Bharrat Corporation purchased 32% of Ferris Corporation for $118,000 on January 1. On October 17 of the same year, Ferris Corporation declared total cash dividends of $30,000. At year-end, Ferris Corporation reported net income of $78,000. The balance in the Bharrat Corporation's Long-Term Investment-Ferris account at December 31 should be: Multiple Choice $108,400. $118,000. $102,640. $142,960. $133,360