Q22. Company X owns 15% of company S and exerts significant control over the operations of the company. The book value of the investment on December 31, 2001, is $48,000. In 2002, company S earned $100,000 and paid dividends of $20,000. The value of the investment account on December 31, 2002, is:
A) $63,000. B) $48,000. C) $60,000.
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