Kendall Company owns 20% of Lester Corporation and accounts for the investment using the equity method. At the beginning of the year, the balance in the investment account was $290,000. During the year, Lester earned net income of $70,000 and distributed cash dividends of $14,000. Which of the following is true? The balance in the Investment in Lester account at the end of the year was $304,000. O Kendall had an increase in cash from this investment of $2,800. O The balance in the Investment in Lester account decreased this year. O Kendall's Investment Income for the year was $2,800. O Kendall's Accumulated Other Comprehensive Income for the year increased by $11,200.

Kendall Company owns 20% of Lester Corporation and accounts for the investment using the equity method. At the beginning of the year, the balance in the investment account was $290,000. During the year, Lester earned net income of $70,000 and distributed cash dividends of $14,000. Which of the following is true? The balance in the Investment in Lester account at the end of the year was $304,000. Kendall had an increase in cash from this investment of $2,800. The balance in the Investment in Lester account decreased this year. Kendall's Investment Income for the year was $2,800. Kendall's Accumulated Other Comprehensive Income for the year increased by $11,200