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On January 1, 2021,Bucket Corp. purchased 25% of the common stock outstanding of Pacer Co. for $270,000. During 2021, Pacer Co. reported net income of

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On January 1, 2021,Bucket Corp. purchased 25% of the common stock outstanding of Pacer Co. for $270,000. During 2021, Pacer Co. reported net income of $80,000 and paid cash dividends of $40,000. The balance of the Stock Investments-Pacer Co. account on the books of Bucket Corp. at December 31, 2021 is $280,000. O O $270,000. $310,000 o O $350,000. O

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