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Wildhorse Company purchased 200 of the 1000 outstanding shares of Blossom Company's common stock for $570000 on January 2, 2021. During 2021, Blossom Company declared

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Wildhorse Company purchased 200 of the 1000 outstanding shares of Blossom Company's common stock for $570000 on January 2, 2021. During 2021, Blossom Company declared dividends of $160000 and reported earnings for the year of $280000 Wildhorse Company uses the equity method of accounting for its investment in Blossom Company, its Equity Investments (Blossom account at December 31, 2021 should be O $538000 O $626000 O $570000 O $594000

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