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What was the purchase price Pod Company paid

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Question - On January 2, 2021 Pod Company purchased 20% of the outstanding common stock of Jobs, Inc. and subsequently used the equity method to account for the investment. During 2021, Jobs reported net income of $840,000 and distributed dividends of $360,000. The ending balance in the Investment in Jobs Company account at December 31, 2021 was $640,000 after applying the equity method. What was the purchase price Pod Company paid for its investment in Jobs, Inc.?

a. $472,000

b. $736,000

c. $544,000

d. $940,000

e. $160,120

Reference no: EM132598110

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