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What is year-end balance in Fargo Corporations Investment

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Question - On January 1, 2021, Fargo Corporation purchased a significant influence shares investment in Concord Corporation for $450,000.  This investment balance represents 40% of the equity of the Concord Corporation.  During 2021, Concord Corporation reported Net Income of $100,000 on November 15, 2021 Concord Corporation paid cash dividends of $20,000 to its shareholders. Using this information, what is the 2021 year-end balance in Fargo Corporations Investment in Concord Corporation account?

Reference no: EM133039838

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