Use the Following Information to Solve the Following Questions

question 89

Multiple Choice

Use the following information to solve the following questions:
Red Corp. owns 3,000 of the 10,000 outstanding common shares of Grey Corp. and exercises significant influence. During 2020, Grey reported net income of $ 120,000 and paid total cash dividends of $ 40,000.
-If the beginning 2020 balance in the Investment in Grey Corp. account was $ 180,000, the balance at December 31, 2020 should be

• A) $ 260,000.
• B) $ 204,000.
• C) $ 180,000.
• D) $ 132,000.

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Definitions:

Air Protection

Efforts and measures taken to reduce the pollution of the air and protect the atmosphere from harmful substances.

Water Protection

Measures and initiatives implemented to preserve and safeguard water resources from pollution, depletion, and other forms of environmental degradation.

Land Protection

The methods and strategies used to conserve, preserve, and protect land and its natural resources from degradation, pollution, and destruction.

Biodiversity

The variety and variability of life on Earth, encompassing the diversity of species, ecosystems, and genetic variations.