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On January 1,2020 , Coldspring Corp. paid $770,000 to acquire Whitt Co. Coldspring used the equity method to account for the investment. The following information

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On January 1,2020 , Coldspring Corp. paid $770,000 to acquire Whitt Co. Coldspring used the equity method to account for the investment. The following information is available for the assets, liabilities, and stockholders' equitv accounts of Whitt: Whitt earned net income for 2020 of $125,000 and paid dividends of $18,000 during the year. What is the balance in Equity Investment at the end of 2020? a. $873,250 b. $877,000 c. $891,250 d. $895,000

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