Spring Creek, Inc. purchased a 18% interest in Floyd Corporation on January 2, 2020. The purchase price was $200,000. Spring Creek's officers constitute a majority of Floyd Corporations board of directors. The investee reported net income of $300,000 and paid dividends of $50,000 in 2020. On December 31, 2020, balance sheet, what amount should Spring Creek, Inc. report as Equity Investment in Floyd Corporation?

Select one:

A. $263,000

B. $254,000

C. $245,000

D. $300,000