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On January 1, Belleville Company paid $1,910,000 to acquire 95,500 shares of O'Fallon's voting common stock, which represents a 40 percent investment. No allocations to

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On January 1, Belleville Company paid $1,910,000 to acquire 95,500 shares of O'Fallon's voting common stock, which represents a 40 percent investment. No allocations to goodwill or other specific accounts were made. Significant influence over O'Fallon is achieved by this acquisition and so Belleville applies the equity method. O'Fallon declared a $1 per share dividend during the year and reported net income of $656,000 What is the balance in the Investment in O'Fallon account found in Belleville's financial records as of December 31? Multiple Choice O $2.076.900 $2.136.900 $2,172,400 $2996.900

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