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Pharoah Company acquired a 60% interest in Sheridan Corporation on December 31, 2020 for $1695000. During 2021, Sheridan had net income of $920000 and paid

Pharoah Company acquired a 60% interest in Sheridan Corporation on December 31, 2020 for $1695000. During 2021, Sheridan had net income of $920000 and paid cash dividends of $210000. At December 31, 2021, the balance in the investment account should be $1695000. $2373000. $2247000. O $2121000

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