Question: Question 6 7 points Save Answe On January 1, 2018, West Coast Boats paid $ 1,850,000 for its 30% investment in East Coast Autos. After

Question 6 7 points Save Answe On January 1, 2018, West

Question 6 7 points Save Answe On January 1, 2018, West Coast Boats paid $ 1,850,000 for its 30% investment in East Coast Autos. After the purchase, West Coast Boats has significant influence over East Coast Autos. East Coast Autos earned net income of $30,000,000 and paid cash dividends of $15,000,000 to all outstanding stockholders during 2018. Assume all outstanding stock is voting stock. What is the December 31, 2018 balance of the investment account? A. $1,850,000 B. $31,850,000 C. $6,350,000 D. $10, 850,000

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