$4$

On January $1,2024,$ American Corporation purchased $30\%$ of the outstanding voting shares of Short Supplies common stock for $$249,000$ cash. On that date, Short's book value and fair value were both $$830,000.$ The equity method is deemed appropriate for this investment. Short's net income reported on December $31,2024,$ was $$79,000.$ During $2024.$ Short also paid cash dividends in the amount of $$23,500.$

Required:

Compute the amount that would be reported for the investment on American Corporation's financial statements at December $31,2024.$