On January 1, 2018. Pine Company acquired Spin PLC, a British subsidiary, by purchasing all its common stock at book value. Additional Information 1. Spin uses the FIFO method for its inventory. The beginning inventory was acquired on December 31, 2017, and ending inventory was acquired on December 26, 2018. Purchases of 300,000 were made evenly throughout 2018. 2. Building and equipment were acquired as follows: Date Cost January 1, 2016 100.000 December 31, 2017 130,000 July 2018 $100,000 Building and equipment are depreciated using straight-line method and a 10-year life with no salvage value 3. Spin's sales were made evenly throughout 2018 and its operating expenses were incurred evenly throughout 2018 Dividends of 25.000 wore declared and paid on July 2018 and on November 2018 Gear /attempt.php?attempt=459138&cmid=181369 Trial Balance December 31, 2018 Item Pounds Cash 72.000 50.000 Accounts receivable (net) Marketable securities 50.000 Inventory 120.000 330,000 Building & equipment Cost of goods sold Operating expenses Depreciation expense 270,000 60,000 28,000 Dividends pald 10.000 Total 2990,000 48.000 Accumulated depreciation Accounts payablo Notes payable Commonsta Fotored and 90.000 100 000 2 What is the appropriate rate for restating marketable securities? Select one: a. $1.25 Ob. $1.31 c. $1.35 d. $1.30