Franklin purchases 40 percent of Johnson Company on January 1 for $583, 700. Although Franklin did not use It, this acquisition gave Franklin the ability to apply significant Influence to Johnson's operating and financing policies. Johnson reports assets on that date of $1, 508,000 with liabilities of $520,000. One building with a seven year life is undervalued on Johnson's books by $201, 250. Also, Johnson's book value for Its trademark (10-year life) is undervalued by $270,000. During the year, Johnson reports net Income of $138,000 while declaring dividends of $70,000. What is the Investment In Johnson Company balance (equity method) In Franklin's financial records as of December 31? $643, 800. $588, 600. $610, 900. $600, 100