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Nash's Corporation acquired a 30% interest in Swifty Company on January 1, 2021, for $480,000. At that time, Swifty had 1,000,000 shares of its $1
Nash's Corporation acquired a 30% interest in Swifty Company on January 1, 2021, for $480,000. At that time, Swifty had 1,000,000 shares of its $1 par common stock issued and outstanding. During 2021, Swifty paid cash dividends of $150,000 and thereafter declared and issued a 5% common stock dividend when the fair value was $2 per share. Swifty's net income for 2021 was $350,000. What is the balance in Nash's's equity investment account at the end of 2021? Balance in equity investment account
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