On 1/1/2019,X Co purchased a 30% interest in Y Co for $340,000.Y reported net income of $100,000 for 2019 and declared and paid a dividend of $10,000.

X co using the Cost method. In its 31/12/ 2019,balance sheet

what amount should X report as its investment in Y?

Select one:

a. 223,000

b. 340,000

c. 250,000

d. 277,000

Equity investments at acquisitions require direct expenses of registering equity securities be charged to additional paid-in capital

Select one:

True

False