Excerpts from Huckabee Company's December 31, 2018 and 2017, financial statements are presented below: 2018 Accounts receivable $ 80,000 2017 $ 72,000 Merchandise inventory Net sales 58,000 400,000 72,000 372,000 Cost of goods sold 240,000 220,000 Huckabee's 2018 average collection period (rounded) is: Gerken Company concluded at the beginning of 2018 that the company's ownership interest in DillCo had increased to the point that it became appropriate to begin using the equity method to account for the investment. The balance in the investment account is $52,000 at the time of the change, and accountants working with company records determined that the balance would have been $77,000 if the account had been adjusted for investee net income and dividends as prescribed by the equity method. After implementing the change to the equity method, if financial statements were prepared: Assume that, on January 1, 2018, Matsui Co. paid $1,622,400 for its investment in 62,400 shares of Yankee Inc. Further, assume that Yankee has 260,000 total shares of stock issued. The book value and fair value of Yankee's identifiable net assets were both $520,000 at January 1, 2018. The following information pertains to Yankee during 2018: Net Income $260,000 Dividends declared and paid Market price of common stock on 12/31/2018 $ 78,000 $ 28/share What amount would Matsui report in its year-end 2018 balance sheet for its investment in Yankee