22 Hodge Bison Revenues Expenses Net income Retained earnings, 1/1. Net income s Dividends Retained earning, 12/31 Cash Receivables and inventory $ 720 $2,400 720 $2,600 $ 700 1,880 400 $ 300 $ 500 300 (270) 0 $2,850 $ 800 $ 240 $ 230 1,200 360 Buildings (net) 2,700 650 Equipment (net) Total assets Liabilities 2,100 1,300 $6,240 $2,540 $1,500 $ 720 Common stock Additional paid-in capital 1,080 810 400 620 Retained earnings 2,850 800 Total liabilities & stockholders' equity $6,240 $2,540 Help Save & Exit On 12/31/2021, Hodge obtained a loan for $650 and used the proceeds, along with the transfer of 35 shares of its $10 par value common stock, in exchange for all of Bison's common stock. At the time of the transaction, Hodge's common stock had a fair value of $40/share. In connection with the business combination, Hodge paid $25 to a broker for arranging the transaction and $30 in stock issuance costs. At the time of the transaction, Bison's equipment was actually worth $1,450 but its buildings were valued at $590. Assuming that Bison retains a separate corporate existence after this acquisition, at what amount is the investment recorded on Hodge's books