David, Inc. used the equity method of accounting for its investment in Russell Company. At December 31, 2020, the investment account balance was $4,500 after all adjustments were recorded. The following is additional information David's share of Russell's' 2020 net income $2,300 David's share of 2020 depreciation of Russell equipment 100 David's dividends received from Russell in 2020 700 What was the January 1, 2020 balance in Investment in Russell Company? a. $2,300 b. $3,000 c. $3,800 d. $2,900