Q 12.11: O Company for $450,000. For the year ended December 31st, Dennehy reported net income of $90,000 and paid cash dividends of $30,000 on its common stock. On December 31st, the carrying value of Matthews n January 2nd Matthews Corporation acquired 20% of the outstanding common stock of Dennehy investment in Dennehy under the equity method is A $462,000. Abo B $444,000 C $456,000. D $450,000