Question Note purchased a0% of the common stock of the Company on January 1, 2020, for $600,000. On that date, the stockholders' equity of Company was $450,000. On the purchase date, inventory of Company, which was sold during 2020, was overstated by $15,000. Any remaining excess of cost over book value is attributable to patent with a 10-year life. The reported income and dividends paid by Company were as follows: 2020 Net Income $100,000 Dividends paid 10,000 Refer to the above scenario. Using the simple equity method, what are the investment income for Subsidiary Income) for 2020 and the balance of investment in Sub (s Company) as of 12/31/20207 Select one: $80,000 and $580,000 572,000 and $672.000 $90,000 and $680,000 580,000 and $672,000