Question2. Assume the following transactions occured during 2023:
Jan I, Purple purchases $30 \%$ of Yellow's common stock for $\$ 150,000$. June 30, Yellow reported net income of $\$ 50,000$. June 30, Yellow declared \$20,000 Dividends. July 1, Purple purchases additional$10 \%$of Yellow's common stock for$\$50,000$. Dec 31, Yellow reported net income of $\$ 65,000$. Dec 31, Yellow declared $\$ 20,000$ dividends. The Investment in Yellow account balance reported by Purple at December 31, 2023 would be A. $\$ 250,000$ B. $\$ 275,000$ C. $\$ 227,000$ D. $\$ 222,500$