Khalil Inc., a publicly traded company, purchased 20% of Gumsan Ltd.'s common shares for $206,000 on January 1 . During the year, Gumsan reported net income of $351,000 and declared and paid dividends of $40,000. The investment's fair value at December 31 was $251,000, the company's year end. Assuming there is significant influence, indicate the balance in the investment account at year end. Balance $ Where it would be reported in the statement of financial position if Khalil uses the equity method. eTextbook and Media Assuming Khalil does not have significant influence, determine the balance in the investment account at year end. Balance $ Where it would be reported in the statement of financial position if the fair value through profit or loss model is used? Assume instead that Khalil is a private company reporting under ASPE. It chooses the cost model because fair value cannot be determined on December 31. Determine the balance in the investment account at year end. Balance $ Where it would be reported in the statement of financial position