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Gingko Company purchased 2,000 of the 10.000 outstanding shares of Wormwood Company's common stock for $180,000 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 $180,000 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 equity method of accounting for its investment in Wormwood Company, its investment in Wormwood Company account at December 31, 20X4 should be: Select one: a. $198.000 b. $180.000 O C. $204.000 d. 5174,000

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