Use the Following Information to Solve the Following Questions

Use the following information to solve the following questions:
During calendar 2020, Davel Corp. reported net income of $ 45,000 and paid total cash dividends of $ 15,000. Ryan Inc. owns 2,250 of the 7,500 outstanding shares of Davel and exercises significant influence.
-What amount should Ryan show in the investment account at December 31, 2020 if the beginning of the year balance in the account was $ 60,000?

A) $ 69,000
B) $ 73,500
C) $ 60,000
D) $ 90,000

Correct Answer:

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