On January 1, 2018, Como Company purchased 45% of the outstanding common shares of the Lite Company for $200,000. The net assets of Lite Company totaled $400,000. The inventory had a book value of $100,000 and a fair value of $120,000. Excess cost attributable to inventory is written off in 2018. During 2018, Lite Company earned $200,000 and declared a dividend of $40,000 for the year.

The fair value of the Lite stock investment at the end of 2018 was $210,000. Which of the following amounts are correct assuming that Como elected to use the fair value option to account for the Lite investment? 2018 December 31, 2018 Income carrying value

$28,000 $210,000

$81,000 $263,000

$91,000 $273,000

$18,000 $210,000