Brooklyn Company bought 34% of the shares of Oswego, Incorporated, at the start of 2023. Brooklyn paid $9,000,000 for the shares. 34% of the book value of Oswegos net assets is $7,200,000, and the difference of $1,800,000 is due to land that Oswego owns that has appreciated in value. During 2023, Oswego reported net income of $1,100,000 and paid a cash dividend of $400,000. The investment gives Brooklyn significant influence over the operating and financial policies of Oswego.

Amount paid for shares $9,000,000

% of shares purchased 34%

Book value of 34% of net assets $7,200,000

Book value of land $1,800,000

Oswego's reported net income $1,100,000

Cash dividend paid by Oswego $400,000

At what amount does Brooklyn carry the Oswego investment on its balance sheet as of December 31, 2023?

Brooklyn Company bought 34% of the shares of Oswego, Incorporated, at the start of 2023 . Brooklyn paid $9,000,000 for the shares. 34% of the book value of Oswego's net assets is $7,200,000, and the difference of $1,800,000 is due to land that Oswego owns that has appreciated in value. During 2023, Oswego reported net income of $1,100,000 and paid a cash dividend of $400,000. The investment gives Brooklyn significant influence over the operating and financial