Question:

On January 1, 2020, Sunland Corporation purchased 36% of the common stock outstanding of Blossom Corporation for $67,000. During 2020, Blossom Corporation reported net income of $220,000 and paid cash dividends of $100,000. The balance of the Stock Investments - Blossom account on the books of Sunland Corporation at December 31,2020 is:

a) 713,200

b) 749,200

c) 634,000

d) 670,000