MK, Inc, owns 100 percent of J Company's 45,000 voting shares. On June 30, MK's internal accounting records show a $192.000 equity method balance for its investment in J. MK sells 15,000 of its shares on the open market for $80,000 on June 30. How should MK record the excess of the sale proceeds over its carrying amount for the shares? Multiple Choice Reduce goodwill by 564,000, Increase its additional paid.in capital by $16,000. Recognize again on sale for $16,000 Multiple Choice Reduce goodwill by 864,000 Increase its additional paid-in capital by $16,000 O Recognize o gain on sale for $16,000. O Recognize a revoluation gain on its remaining shares of $48,000