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Wildhorse Company purchased 200 of the 1000 outstanding shares of Ayayai Company's common stock for...

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Accounting

Wildhorse Company purchased 200 of the 1000 outstanding shares of Ayayai Company's common stock for $610000 on January 2, 2021. During 2021, Ayayai Company declared dividends of $100000 and reported earnings for the year of $330000. If Wildhorse Company uses the equity method of accounting for its investment in Ayayai Company, its Equity Investments (Ayayai) account at December 31, 2021 should be

$610000.

$590000.

$656000.

$676000.

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