Cashen Co. paid $2,400,000 to acquire all of the common stock of Janex Corp. on January 1, 2010. Janex's reported earnings for 2010 totaled $432,000, and it paid $120,000 in dividends during the year. The amortization of allocations related to the investment was $24,000. Cashen's net income, not including the investment, was $3,180,000, and it paid dividends of $900,000. On the consolidated financial statements for 2010, what amount should have been shown for Equity in Subsidiary Earnings?

A.

$432,000.

B.

$-0-

C.

$408,000.

D.

$120,000.

E.

$288,000.