On January 2, Swifty Corporation acquired 37% of the outstanding common stock of Blossom Company for $555000. For the year ended December 31, Blossom reported net income of $88000 and paid cash dividends of $27000 on its common stock. At December 31, the carrying value of Swiftys investment in Blossom under the equity method is

On January 2, Swifty Corporation acquired 37% of the outstanding common stock of Blossom Company for $555000. For the year ended December 31, Blossom reported net income of $88000 and paid cash dividends of $27000 on its common stock. At December 31, the carrying value of Swifty's investment in Blossom under the equity method is $587560. $577570. $555000. $545010