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What is the balance in mantle investment account

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Question - Mantle Corp. acquired a 25% interest in Babe Ruth Co. on January 1, 2010, for $500,000. At that time, Babe Ruth Co. had 1,000,000 shares of its $1 par common stock issued and outstanding. During 2010, Babe Ruth Co. paid cash dividends of $160,000 and thereafter declared and issued a 5% common stock dividend when the market value was $2 per share. Babe Ruth's net income for 2010 was $360,000. What is the balance in Mantle's investment account at the end of 2010? Show work please!

Reference no: EM131765558

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