P Corporation bought 100% of S Company's common stock at its book value of $400,000 on January 1, 2014. During 2014, S reported net income of $130,000 and paid dividends of $40,000. At what amount should P's Income from S be reported on December 31, 2014 by using equity method?

Select one:

a. 99,000

b. 100,000

c. 130,000

d. 110,000