Situation 2: Goebel Company acquired a 30% interest in Dobbs Company on December 31, 2018 for $350,000. During 2019 Dobbs Company had net income of $150,000 and paid a cash dividend of $60,000. (Dobbs Company paid $60,000 cash dividend to all of its shareholders.) 18. The beginning balance in the investment account in Dobbs Company was $350,000, the balance at December 31, 2019 should be a. $332,000. b. $350,000. c. $377,000. d. $395,000 Goebel should report investment income for 2019 of a. $18,000. b. $45,000. c. $60,000. d. $150,000. 20. Assuming the fair value of Goebel's investments in Dobbs Company is $400,000 at the end of 2019. Applying the equity method, Goebel Company should report its investment in Dobbs Company as a. $332,000. b. $377,000. c. $395,000. d. $400,000