What is the balance in Whispering equity investment

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Question - Whispering Corporation acquired a 40% interest in Ayayai Company on January 1, 2021, for $510,000. At that time, Ayayai had 1,000,000 shares of its $1 par common stock issued and outstanding. During 2021, Ayayai paid cash dividends of $160,000 and thereafter declared and issued a 5% common stock dividend when the fair value was $2 per share. Ayayai's net income for 2021 was $363,000. What is the balance in Whispering's equity investment account at the end of 2021?

Reference no: EM132604667

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