(Answered) Question - olivia co owns 4000 of the 10000 outstanding

Accounting

Question - Olivia Co. owns 4,000 of the 10,000 outstanding shares of Hobbitt Corp. common stock and exercises significant influence over the company. During 2011, Hobbitt earns $80,000 and pays cash dividends of $30,000. If the beginning balance in the investment account was $160,000, the balance at December 31, 2011 should be:

A. $160,000

B. $192,000

C. $180,000

D. $172,000

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