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DeMilo, Inc., owns 100 percent of the 49,000 outstanding shares of Ricardo, Inc. DeMilo currently carries the Investment in Ricardo account at $521,000 using the

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DeMilo, Inc., owns 100 percent of the 49,000 outstanding shares of Ricardo, Inc. DeMilo currently carries the Investment in Ricardo account at $521,000 using the equity method. Ricardo issues 1,000 new shares to the public for $13.25 per share. How does this transaction affect the Investment in Ricardo account that appears on DeMilo's financial records? Investment in Ricardo should be by

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