On January 1, 2014, Picante Corporation acquired 100 percent of the outstanding voting stock of Salsa Corporation for $1,835,000 cash. On the acquisition date, Salsa had the following balance sheet:

Cash	$	63,000		Accounts payable	$	178,000
Accounts receivable		177,000		Long-term debt		1,007,000
Land		708,000		Common stock		1,017,000
Equipment (net)		1,930,000		Retained earnings		676,000
	$	2,878,000			$	2,878,000

At the acquisition date, the following allocation was prepared:

Fair value of consideration transferred			$	1,835,000
Book value acquired				1,693,000
Excess fair value over book value				142,000
To in-process research and development	$	67,500
To equipment (8-year remaining life)		59,200		126,700
To goodwill (indefinite life)			$	15,300

Although at acquisition date Picante had expected $67,500 in future benefits from Salsas in-process research and development project, by the end of 2014, it was apparent that the research project was a failure with no future economic benefits.

On December 31, 2015, Picante and Salsa submitted the following trial balances for consolidation. There were no intra-entity payables on that date.

		Picante			Salsa
Sales	$	(3,740,400	)	$	(1,158,500	)
Cost of goods sold		1,760,000			722,500
Depreciation expense		563,000			166,000
Subsidiary income		(262,600	)		0
Net income	$	( 1,680,000	)	$	(270,000	)
Retained earnings 1/1/15	$	(3,160,000	)	$	(855,000	)
Net income		(1,680,000	)		(270,000	)
Dividends declared		100,000			25,425
Retained earnings 12/31/15	$	(4,740,000	)	$	(1,099,575	)
Cash	$	174,225		$	59,575
Accounts receivable		910,000			216,000
Inventory		920,000			649,000
Investment in Salsa		2,176,275			0
Land		3,642,500			775,000
Equipment (net)		5,230,000			1,760,000
Goodwill		305,000			0
Total assets	$	13,358,000		$	3,459,575
Accounts payable	$	(233,000	)	$	(452,000	)
Long-term debt		(3,235,000	)		(891,000	)
Common stock		(5,150,000	)		(1,017,000	)
Retained earnings 12/31/15		(4,740,000	)		(1,099,575	)
Total liabilities and equities	$	(13,358,000	)	$	(3,459,575	)

Note: Parentheses indicate a credit balance.

a.	Determine the investment in Salsa account balance as on December 31, 2015. (Amounts to be deducted should be indicated by a minus sign.) Consideration Transferred 1/1/14: X X X X X X Investment Balance 12/31/15: