Porter Ltd, a parent company, has a 20% investment and hence significant influence) in Rowling Ltd for 10 years. Porter's accountant has mislaid the file of equity accounting memoranda and has asked you to reconstruct the information from the following data: The investment cost is $720 000. Rowling made a $300 000 dividend appropriation in the final quarter of the current year. The dividend was from current year profit. The increase in Rowling's reserves in the current year is due to an appropriation of profit. There is no need to make fair value adjustments to amounts reported by Rowling. There are no intercompany transactions. Equities of Rowling, under the cost basis, are at: Paid-up capital General reserve Retained profits Acquisition date Start of current year S s 1 200 000 1 200 000 800 000 1 100 000 500 000 End of current year S 1 200 000 1 200 000 900 000 In preparing memoranda journal entries to convert from the cost basis to the equity method of accounting for the current year, how much is the net increase for the account of Revenue from associate? Select one: O A. $160,000 O B. $60,000 a C. $80,000 D. $100,000