Lessington Corporation purchases 4,000 shares of Gonzalez Company common stock for $150,000 cash. Gonzalez has 500,000 shares of stock currently outstanding. Lessington's entry to record the purchase would include a:
A. Debit to Equity Method Investment for $150,000.
B. Debit to Stock Investments for $150,000.
C. Credit to Common Stock for $150,000.
D. Debit to Long-Term Investments-AFS for $150,000.
E. Credit Equity Method Investment $150,000.
Answer: B
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