MC Qu. 94 LO 12-05 Assume that, on January 1, 2013...

Assume that, on January 1, 2013, Matsui Co. paid $1,656,000 for its investment in 82,800 shares of Yankee Inc. Further, assume that Yankee has 230,000 total shares of stock issued. The book value and fair value of Yankee's identifiable net assets were both $460,000 at January 1, 2013. The following information pertains to Yankee during 2013:

Net income	$230,000
Dividends declared and paid	$69,000
Market price of common stock on 12/31/2013	$22/share

What amount would Matsui report in its year-end 2013 balance sheet for its investment in Yankee?

None of the above is correct.

$1,955,000.

$1,725,000.

$1,713,960.