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  3. on january 1, 20x1. abc corp purchased 26.09% of t

On January 1, 20X1. ABC Corp purchased 26.09% of the common shares of XYZinc for...

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Accounting

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On January 1, 20X1. ABC Corp purchased 26.09% of the common shares of XYZinc for $102,813. The investment is reported using the equity method, as ABC has significant influence over XYZ.XYZ reported net income and dividends of $51,407 and $20,559 respectively for the fiscal year 20X1. For the fiscal year 20X2, XYZ reported net income and dividends of $71,965 and $82,267 respectively. Calculate the balance of Investment in XYZ account on ABC's balance sheet on December 11, 20X1. Assume both companies have a December 31 fiscal year end. O a. $116,404 O b$110,861 c. $105,318 d. $108,090 e. $113,633

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