P company acquires 90% of S company's outstanding common stock for $200,000 on 1/1/2021. In 2021,...

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P company acquires 90% of S company's outstanding common stock for $200,000 on 1/1/2021. In 2021, S company reported net income of $50,000 and declared dividend of $40,000. In 2022, S company reported net loss of $30,000 and declared dividend of $10,000. P company uses the cost method to record its investment. Calculate the balance of P company's Investment in S Company account at 12/31/2022. A. $200,000 B. $190,000 C. $230,000 D. $191,000 P company acquires 90% of S company's outstanding common stock for $200,000 on 1/1/2021. In 2021, S company reported net income of $50,000 and declared dividend of $40,000. In 2022, S company reported net loss of $30,000 and declared dividend of $10,000. P company uses the cost method to record its investment. Calculate the balance of P company's Investment in S Company account at 12/31/2022. A. $200,000 B. $190,000 C. $230,000 D. $191,000

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