2 3 On January 1, 2020, Barber Corp, paid $1,160,000 to acquire Thompson Co. Thompson maintained separate incorporation. Barber used the equity method to account for the investment. The following information is available for Thompson's assets, liabilities, and stockholders' equity accounts on January 1, 2020 eBook Current assets Land Book Value Fair Value $130,000 $130,000 75,000 193,000 250,000 276,000 P 01 Building (twenty year life) Equipment (ten year life) 540,000 518,000 Current liabilities References Long-term liabilities Common stock 26,000 26,000 124,000 124,000 233,000 Additional paid-in 389,000 capital Retained earnings 223,000 Thompson earned net income for 2020 of $134,000 and paid dividends of $51,000 during the year. What is the balance in Barber's investment in subsidiary account at the end of 2020? Multiple Choice