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What is the balance in Swiftys equity investment account

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Question - Swifty Corporation acquired a 40% interest in Marigold Company on January 1, 2021, for $490,000. At that time, Marigold had 1,000,000 shares of its $1 par common stock issued and outstanding. During 2021, Marigold paid cash dividends of $162,000 and thereafter declared and issued a 5% common stock dividend when the fair value was $2 per share. Marigold's net income for 2021 was $352,000. What is the balance in Swifty's equity investment account at the end of 2021?

Reference no: EM132562941

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