Assume an investee as the following financial statement information for the two years ending December 31, 2019:

(At December 31)			2019		2018
Current assets			$286,000		$273,000
Tangible fixed assets			664,000		576,000
Intangible assets			38,000		46,000
Current liabilities			$122,000		$112,000
Noncurrent liabilities			267,000		241,000
Common stock			244,000		202,000
Additional Paid In Capital			47,000		43,000
Retained earnings			399,000		339,000
(For the years ended December 31)
Revenues			$981,000		$906,000
Expenses			860,000		820,000
Dividends			$41,000		$36,000

Assume on January 1, 2018, an investor company purchased 100% of the outstanding voting common stock of the investee. On the date of the acquisition, the investee's identifiable net assets had fair values that approximated their historical book values, except for tangible fixed assets, which had fair value that was $109,000,000 higher than the investee's recorded book value. The tangible fixed assets had a remaining useful life of 6 years.

In addition, the acquisition resulted in goodwill in the amount of $214,000 recognized in the consolidated financial statements of the investor company. Assume that the investor company uses the equity method to account for its investment in the investee.

Calculate the balance in the Equity Income account in the investor company's pre-consolidation balance sheet on December 31, 2019.