Question 11 Not yet answered Marked out of 1:50 P Flag question Onl/1/2020.K Company purchased a 50 % interest in P Company for $200,000. P reported net income of $100,000 for 2020 and declared and paid a dividend $30,000 K accounts for investment using the equity method. In 31/12/2020 balance sheet what amount should K report as its investment in P? Select one: a. 235,000 b. 277,000 c. 200,000 O d. 240,000