Question 30 On January 2, Coronado Corporation acquired 37% of the outstanding common stock of Sandhill Company for $560000. For the year ended December 31, Sandhill reported net income of $91000 and paid cash dividends of $25000 on its common stock. At December 31, the carrying value of Coronado's investment in Sandhill under the equity method is $560000 $593670 $584420 $550750