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What is yearend 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 $300,000. This investment balance represents 20% of the equity of the Concord Corporation. During 2021, Concord Corporation reported Net Income of $120,000 on November 15, 2021 Concord Corporation paid cash dividends of $40,000 to its shareholders. Using this information, what is the 2021 yearend balance in Fargo Corporations Investment in Concord Corporation account? Enter as whole dollars (no cents).

Reference no: EM133185106

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