Bigger acquires 25% of Smaller Limited on 1 January 2019 for $100,000, and gains significant influence over this associate. The net assets of Smaller Limited are fairly valued at $110,000. In the year ended 31 December 2019, Smaller makes a net profit after tax of $20,000, and pays a total dividend to its shareholders of $10,000. It also records a loss in OCI of $3,000.

What is the balance that Bigger records in its financial statements as at 31 December 2019 in respect of its investment in Smaller Limited? Bigger Limited has no subsidiaries.