Quiz navi: Finish attem ed 1.00 HOURS 0 n During January 2012,Oman Company acquired 30% of the outstanding common stock of Gulf Company for $1,400,000. This investment gave Oman Companythe ability to exercise significant influence over Gulf Company. Gulf Company's assets on that date were recorded at $6,400,000 with liabilities of $3,000,000. Any excess of cost over book value of Oman Company's investment was attributed to unrecorded patents having a remaining useful life of ten years. In 2012, Gulf Company reported net income of $600,000. For 2013, Gulf Company reported net income of $750,000. Dividends of $200,000 were paid in each of these two years. What was the reported balance of Oman Company's investment in Gulf Company at December 31, 2013? 1 2 7 8 9 13 15 Select one: A. $1,647,000. B. $1,054,300 C. $1,609,000 D. $1,485,000 E. 1,685,000