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In January 2017, Domingo, Inc., acquired 20 percent of the outstanding common stock of Martes, Inc., for $768,000. This investment gave Domingo the ability to

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In January 2017, Domingo, Inc., acquired 20 percent of the outstanding common stock of Martes, Inc., for $768,000. This investment gave Domingo the ability to exercise significant influence over Martes, whose balance sheet on that date showed total assets of $4,134,000 with liabilities of $964,000. Any excess of cost over book value of the investment was attributed to a patent having a remaining useful life of 10 years. In 2017, Martes reported net income of $198,000. In 2018, Martes reported net income of $250,200. Dividends of $90,000 were declared in each of these two years. What is the equity method balance of Domingo's Investment in Martes, Inc., at December 31, 2018? Multiple Choice $821,640. $821.640. 0 $916,240 o $794,840. o C o $902,840

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