On January 1, 2020, Grante Corporation purchased 25% of the common stock outstanding of Tile Corporation for $ 270000. During 2020, Tile Corporation reported net income of $ 80000 and paid cash dividends of $ 40000. The balance of the Stock Investments Tile account on the books of Grante Corporation at December 31, 2020 is

$ 350000.

$ 280000.

$ 310000.

$ 270000.