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Tracy Company owns 4,000 of the 10,000 outstanding shares of Penn Corporation common stock. During, 2025, Penn earns $450,000 and pays cash dividends of $150,000.

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Tracy Company owns 4,000 of the 10,000 outstanding shares of Penn Corporation common stock. During, 2025, Penn earns $450,000 and pays cash dividends of $150,000. If the December 31, 2024 balance in Tracys investment account was $900,000, the balance at December 31, 2025 is 3. $900,000. b. $1,020,000. c. $1,080,000. d. $1,200,000

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