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How much HK should report the investment in Jackie Company

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Question - On January 1, 2019, HK Corp. paid $800,000 for 100,000 shares of Jackie Company's common stock, which represents 35% of Jackie′s outstanding common stock. Jackie reported net income of $17,000 and paid cash dividends of $8,000 during 2019. How much HK should report the investment in Jackie Company on its December 31, 2019, balance sheet?

a. $809,000

b. $817,000

c. $800,000

d. $825,000

Reference no: EM132737414

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