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Reed company paid $80,000 to acquire 30% of the outstanding common stock of Jo Inc on 12/31/16. Jo reported total net income 30,000 and paid
Reed company paid $80,000 to acquire 30% of the outstanding common stock of Jo Inc on 12/31/16. Jo reported total net income 30,000 and paid total cash dividends of $10,000 in 2017. The market price of stock Reed purchased was $90,000 on 12/31/17. The balance in Reeds Investment account should be:
A. $80,000
B. $90,000
C. $92,000
D. $95,000
E. $102,000
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