David, Inc. used the equity method of accounting for its investment in Russell Company. At December 31, 2020, the investment account balance was $4,500 after all adjustments were recorded. The following is additional information David's share of Russell's' 2020 net income $2,300 David's share of 2020 depreciation of Russell equipment 100 David's dividends received from Russell in 2020 700.

   What was the January 1, 2020 balance in Investment in Russell Company?