Question: anyone know how to do it? thanks Question 21 (5 points) On January 1, 2017, Snape Company purchased 35% of the outstanding common shares of

anyone know how to do it? thanks Question 21 (5 points)

anyone know how to do it? thanks

Question 21 (5 points) On January 1, 2017, Snape Company purchased 35% of the outstanding common shares of the Lumos Company for $70,000. At the time of investment, Lumos Company's net assets were $200,000. During 2017, Lumos Company earned $80,000 and declared a dividend of $40,000. Snape accounted for the investment under the equity method. What is the balance in the investment account as of December 31, 2017? $70,000 $98,000 $84,000

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