On January 2, 2013 . Bismark Corporation bought 20 percent of Congeal Corporation's capital stock for $60,000 and classified it as available-for-sale securities. Congeal's net incomes for the years ended December 31 . 2013 . and 2014, were $20,000 and $100,000, respectively. During 2014, Congeal declared a dividend of $110,000 . No dividends were declared in 2013 . On December 31 . 2014, the fair
value of the Congeal stock owned by Bismark had increased to $90,000 . How much should Bismark show on its 2014 income statement as income from this investment?
a. $18,000
b. $20,000
c. $22,000
d. $44,000
C
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