1.Blanco Company purchased 200 of the 1,000 outstanding shares of Darby Company's common stock for $300,000 on January 2, 2016. During 2016, Darby Company declared dividends of $50,000 and reported earnings for the year of $200,000. (a) If Blanco Company used the fair value method of accounting for its investment in Darby Company, its Investment in Darby Company account on December 31, 2016 should be (b) If Blanco Company uses the equity method of accounting for its investment in Darby Company, its Investment in Darby Company account at December 31, 2016 should be