Ch 12 In-Class Exercise \#4: Equity Method On January 1, 2021, Ajax Corporation purchased 28% of the outstanding voting common stock of Gold Company for $300,450. The book value of the acquired shares was $275,400. The excess of cost over book value is attributable to an intangible asset on Gold's books that was undervalued and had a remaining useful life of five years. For the year ended December 31, 2021, Gold reported net income of $126,000 and paid cash dividends of $25,100. Required: Prepare the necessary journal entries for this investment by Ajax in 2021. What is the carrying value of Ajax's investment in Gold at December 31, 2021