Chan Inc., a publicly traded company, purchased 30% of Dong Ltd.'s common shares for $229,000 on January 1. During the year, Dong reported net income of $315,000 and declared and paid dividends of $38,000. The investment's fair value at December 31 was $274,000, the company's year end. Your answer is partially correct. Assuming there is significant influence, indicate the balance in the investment account at year end. Balance $ Where it would be reported in the statement of financial position if Chan uses the equity method. - Your answer is partially correct. Assuming Chan does not have significant influence, determine the balance in the investment account at year end. Balance $ Where it would be reported in the statement of financial position if the fair value through profit or loss model is used eTextbook and Media - Your answer is partially correct. Assume instead that Chan is a private company reporting under ASPE. It chooses the cost model because fair value cannot be determined on December 31. Determine the balance in the investment account at year end. Balance $ Where it would be reported in the statement of financial position