Nelson Corporation owns equity-method investments in several companies. Nelson paid $1,800,000 to acquire a 30% Investment in Allen Sofware Company. Allen reported net income of $640,000 for the first year and declared and paid cash dividends of $100,000, Without making joumal entries, record the investment transactions directly in the Nelson Taccount, Equity method investment. Assume that after all the noted transactions took place, Nelson nold its entire investment in Allen for cash of $1,700,000. How much is Nolson's gain or loss on the sale of the investment? Post the investment transactions and determine the balance in Nelson's T-account for Equity-method Investment Equity-method Investment