:Rickard Plumbing purchased 22% of Sammons Pipes' common shares for $250,000 on January 3, 2017. The CEO of Rickard Plumbing tried to obtain a seat on Sammons' board of directors in February 2017 but failed. On their December 31, 2017 income statement, Sammons Pipes reported net income of $150,000, and they paid cash dividends of $80,000 on the common shares. What should the balance of Rickard Plumbing's Investment in Sammons Pipes account be on December 31, 2017?

• A
• :
• $265,400
• B
• :
• $300,600
• C
• :
• $250,000
• D
• :
• $234,600