Pendleton Company acquired a 70% interest in Sunflower Company on December 31, 2010, for $380,000....
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Pendleton Company acquired a 70% interest in Sunflower Company on December 31, 2010, for $380,000. During 2011 Sunflower had a net income of $30,000 and paid a cash dividend of $10,000. Applying the equity method would give a debit balance in the Investment in Stock of Sunflower Company account at the end of 2011 of:
A) 400,000
B) 394,000
C) 373,000
D) 380,000
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