Soundtrack Company owns 30,000 of the 60,000 outstanding shares of Report Red, Inc. common stock....
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Accounting
Soundtrack Company owns 30,000 of the 60,000 outstanding shares of Report Red, Inc. common stock. During 2024, Report red reports net income of $800,000 and pays cash dividends of $300,000. If the beginning balance (at 12/31/23) in Soundtracks investment account in Report Red was $100,000, the balance at December 31, 2025 should be
a.
$350,000.
b.
$100,000.
c.
$600,000.
d.
$500,000.
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