Spinebill Corporation bought 80% of Nectar Company?s common stock at its book value of $500,000 on January 1, 2005. During 2005, Nectar reported net income of $150,000 and paid dividends of $45,000. At what amount should Spinebill?s Investment in Nectar account be reported on December 31, 2005? $500,000 $548,000 $584,000 $605,000

Spinebill Corporation bought 80% of Nectar Company?s common stock at its book value of $500,000 on January 1, 2005. During 2005, Nectar reported net income of $150,000 and paid dividends of $45,000. At what amount should Spinebill?s Investment in Nectar account be reported on December 31, 2005?

$500,000

$548,000

$584,000

$605,000

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