9. On January 1, Gar Company paid $600,000 for 20,000 shares of Med Company's common stock, which represents a 15 percent investment in Med. Gar does not have the ability to exercise significant influence over Med. Med declared and paid a dividend of $2 per share to its stockholders during the year. Med reported net income of $520,000 for the year ended December 31. The balance in Gar's balance sheet account "Investment in Med Company" at December 31 should be * (2 Points) $560,000 $600,000 $638,000 $678,000