On January 1, 2020, Priceless Memories owns 100% of Sunshine & More, Inc. that reports a Stockholders' Equity of $1,000,000 and 40,000 shares of $1 par value common stock outstanding.This acquisition was made at book value.During the year, Sunshine & More sells 10,000 of its unissued shares to outsiders for $50 per share.

What is the balance of Priceless Memories' pre-consolidation Equity Investment Account at December 31, 2020?

a.$1,500,000

b.$600,000

c.$1,200,000

d.$-0-