On Jan 1, 2018, Elk Corporation paid $2 per share and bought 20,000 of the 200,000 outstanding shares of Sheep Inc. Sheep Inc. earns $450,000 and pays cash dividends of $150,000 during 2018. Sheep stock was trading at $3 per share on Dec 31, 2018. What amount should Elk Corp. show on the balance sheet at December 31, 2018 with respect to the investment in Sheep