III. Woy oy Corp. acquired a 30% interest in Sang Co. On January 1, 2021 for $500,000. At that time, Sang had 1,000,000 shares of its $1 par common stock issued and outstanding. During 2021, Sang paid cash dividends of $170,000. Sang's net income for 2021 was $360,000. What should be the balance in Woy's investment account at the end of 2021? (15 pts)

Woy Corp. acquired a 30% interest in Sang Co. On January 1, 2021 for $500,000. At that time, Sang had 1,000,000 shares of its $1 par common stock issued and outstanding. During 2021, Sang paid cash dividends of $170,000. Sang's net income for 2021 was $360,000. What should be the balance in Woy's investment account at the end of 2021? (15 pts)