QUESTION 9 P Company purchased 20% of the outstanding stock of Company on Jan 1, 2018 for $200,000. In 2018, Searned a net income of $100,000 and paid dividends of $30,000. In 2018, under the equity method, the balance in the investment in Saccount in P's books on Dec 31 2018 will be $214.000 $220,000 $206,000 $200,000 QUESTION 10 Whenever the investee reports any extraordinary gains, the investor also reports his share in those gains in his books. True False