Cole Company owns 40% of Barnwell Inc. During the current year, Barnwell reported net income of $200,000 and declared dividends of $60,000. How much would Cole Company increase Investment in Barnwell...

Cole Company owns 40% of Barnwell Inc. During the current year, Barnwell reported net income of $200,000 and declared dividends of $60,000. How much would Cole Company increase Investment in Barnwell Inc. Stock for the current year?

A. $24,000                              C. $80,000

B. $56,000                               D. $104,000