7) Borgin Inc, owns 30% of the outstanding voting common stock of Burkes Co, and has the ability to significantly influence the investeer's operations and decision-making. On January 1, now, the balance in the lovestment in Burkes Co. ncccant was $400,000. Amortization associated with the purchase of this investment is $8,000 per year. During 2021, Burkes earned income of $108,000 and paid cash dividends of $36,000. Previously in 2020, Burkes had sold inventory costing $28,800 to Borgin for $48,000. All but 25% of this merchandise was consumed by Borgin during 2020. The remainder was used during the first few weeks of 2021. Additional sales were made to Borgin in 2021; inventory costing $33,600 was transferred at a price of $60,000 of this total, 40% was not consumed until 2022. What was the balance in the nvestment in Burkes Co. account at the end of 2021