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Gingko Company purchased 2.000 of the 10.000 outstanding shares of Wormwood Company's common stock for 5180.000 on January 2, 20X4. During 20X4, Wormwood Company declared

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Gingko Company purchased 2.000 of the 10.000 outstanding shares of Wormwood Company's common stock for 5180.000 on January 2, 20X4. During 20X4, Wormwood Company declared dividends of $30,000 and reported earnings for the year of 120.000. On December 31, 20X4. Wormwood Company's stock is selling for $87. If Gingko Company used the fair value method of accounting for its investment in Wormwood Company, its Investment in Wormwood Company account on December 31, 20X4 should be: Select one: a. $180,000. b. 5198,000 C. $174.000 d. 5204,000

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