Question: On July 1 , 2 0 2 4 , Tremen Corporation acquired 3 0 % of the shares of Delany Company. Tremen paid $ 3

On July

1, 2024,

Tremen Corporation acquired

30 %

of the shares of Delany Company. Tremen paid $

3, 050, 000

for the investment, and that amount is exactly equal to

30 %

of the book value of identifiable net assets on Delany's balance sheet. Delany recognized net income of $

1, 500, 000

for

2024,

and paid $

170, 000

of dividends each quarter to its shareholders. After all closing entries are made, Tremen's "Investment in Delany Company" account would have a balance of:Multiple Choice$

3, 275, 000 .

3, 507, 500 .

3, 173, 000 .

3, 449, 000

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