On january 1, 2014, Portland Company acquired all of Salem Company's voting stock for $18,000,000 in cash. Some of Salem's assets and liabilities at the date of purchase had fair values that differed from reported values, as follows: Salem's total shareholders' equity at january 1, 2014, was $5,000,000. It is now December 31,2017 (four years later). Salem's retained earnings reflect the accumulation of net income less dividends; there have been no other changes in its retained earnings. Salem does not report any other comprehensive income. Cumulative goodwill impairment to the beginning of 2017 is $1,500,000. Goodwill impairment for 2017 is $500,000. Portland uses the complete equity method to account for its investment. The December 31, 2017, trial balance for Salem appears below. On Portland's December 31, 2017, trial balance, what is the balance in its Investment in Salem account, using the complete equity method? On january 1, 2014, Portland Company acquired all of Salem Company's voting stock for $18,000,000 in cash. Some of Salem's assets and liabilities at the date of purchase had fair values that differed from reported values, as follows: Salem's total shareholders' equity at january 1, 2014, was $5,000,000. It is now December 31,2017 (four years later). Salem's retained earnings reflect the accumulation of net income less dividends; there have been no other changes in its retained earnings. Salem does not report any other comprehensive income. Cumulative goodwill impairment to the beginning of 2017 is $1,500,000. Goodwill impairment for 2017 is $500,000. Portland uses the complete equity method to account for its investment. The December 31, 2017, trial balance for Salem appears below. On Portland's December 31, 2017, trial balance, what is the balance in its Investment in Salem account, using the complete equity method