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:

Trapezoid

A four-sided flat shape with straight sides, where at least one pair of opposite sides are parallel.

Mandibular Ramus

The vertical part of the lower jawbone that connects to the mandibular body and supports the teeth.

Mastication

The act of grinding food with teeth before it is swallowed and digested.

Suprahyoid Muscles

A group of muscles located above the hyoid bone in the neck, which function in swallowing and elevating the larynx.