Lai Inc., a publicly traded company, purchased 20% of Chang Lid,'s common shares for $205,000 on January 1 . During the year, Chang reported net income of $327,000 and declared and paid dividends of $43,000. The investment's fair value at December 31 was $256,000, the company's year end. (a) 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 Lai uses the equity method. eTextbook and Media Attempts: 0 of 3 used