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An investor company pays $925,000 to acquire 100% of a target company's voting common stock on 01/01/19. As of the acquisition date, the book value of the target company was $744,000. A few differences between the fair value and book value of the target company's net assets existed as of the acquisition date: 1) A Building with a 12-year remaining useful life was undervalued by $96,000. 2) Equipment with a 10-year remaining useful life was undervalued by $25,000. 3) A Licensing Agreement with a 20-year remaining useful life was undervalued by $60,000. During the year 2019, the target company reported Net Income of $120,000 and declared $50,000 in Dividends. During the year 2020, the target company reported Net Income of $135,000 and declared $35,000 in Dividends. Selected account balances are being presented immediately below for the investor company and the target company. These amounts generally represent balances in the selected accounts for the year ending 12/31/21 or as of 12/31/21 (unless otherwise noted), and these amounts also reflect balances immediately before compiling the Consolidation Worksheet to be used in the reporting process for the Consolidated Financial Statements. These amounts also include all revenues and expenses for the year ending 12/31/21. Account Buildings Cash and Receivables Common Stock Dividends Declared Equipment Cost of Goods Sold Depreciation Expense Inventory Land Investor Company Target Company. 1,540,000 $ 460,000 50,000 90,000 900,000 400,000 70,000 10,000 280,000 200,000 500,000 120,000 100,000 280,000 260,000 330,000 250,000 480,000 260,000 60,000 Liabilities Retained Earnings, 01/01/21 1,360,000 514,000 Revenues 900,000 300,000 Assume that the investor company applies the Full Equity Method to account for its investment in the target company. What is the balance in the investor company's "Investment in Subsidiary" account as of the end of the year 2021, and immediately before compiling the Consolidation Worksheet to be used in the reporting process for the Consolidated Financial Statements? An investor company pays $925,000 to acquire 100% of a target company's voting common stock on 01/01/19. As of the acquisition date, the book value of the target company was $744,000. A few differences between the fair value and book value of the target company's net assets existed as of the acquisition date: 1) A Building with a 12-year remaining useful life was undervalued by $96,000. 2) Equipment with a 10-year remaining useful life was undervalued by $25,000. 3) A Licensing Agreement with a 20-year remaining useful life was undervalued by $60,000. During the year 2019, the target company reported Net Income of $120,000 and declared $50,000 in Dividends. During the year 2020, the target company reported Net Income of $135,000 and declared $35,000 in Dividends. Selected account balances are being presented immediately below for the investor company and the target company. These amounts generally represent balances in the selected accounts for the year ending 12/31/21 or as of 12/31/21 (unless otherwise noted), and these amounts also reflect balances immediately before compiling the Consolidation Worksheet to be used in the reporting process for the Consolidated Financial Statements. These amounts also include all revenues and expenses for the year ending 12/31/21. Account Buildings Cash and Receivables Common Stock Dividends Declared Equipment Cost of Goods Sold Depreciation Expense Inventory Land Investor Company Target Company. 1,540,000 $ 460,000 50,000 90,000 900,000 400,000 70,000 10,000 280,000 200,000 500,000 120,000 100,000 280,000 260,000 330,000 250,000 480,000 260,000 60,000 Liabilities Retained Earnings, 01/01/21 1,360,000 514,000 Revenues 900,000 300,000 Assume that the investor company applies the Full Equity Method to account for its investment in the target company. What is the balance in the investor company's "Investment in Subsidiary" account as of the end of the year 2021, and immediately before compiling the Consolidation Worksheet to be used in the reporting process for the Consolidated Financial Statements