Jill Company owns an equity investment in Jack Company and it is being properly reported using the equity method. Here is the relevant data from the first year of ownership:

% of Jack's stock owned by Jill	30%
Jack's net income	$500,000
Jack's cash dividends paid	$50,000
Amount Jill paid for the stock	$100,000

What is the balance in the Investment in Jack account at year end?