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Pharoah Company owns 4400 of the 10000 outstanding shares of Wildhorse Corporation common stock. During 2021, Wildhorse earns $490000 and pays cash dividends of $154000.

Pharoah Company owns 4400 of the 10000 outstanding shares of Wildhorse Corporation common stock. During 2021, Wildhorse earns $490000 and pays cash dividends of $154000.

If the beginning balance in the investment account was $940000, the balance at December 31, 2021 should be

$1155600.

$1087840.

$1276000.

$940000.

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