On January 1, 2018, Kristopher Co. acquired 15,000 shares of Joshua Company for $165,000 giving Kristopher a 15% ownership of Joshua. Kristopher appropriately accounts for this investment using the fair value method. The market value of Kristopher's investment at December 31, 2018 was $195,000. On January 1, 2019, Kristopher purchased an additional 25,000 shares (25%) of Joshua for $320,000. This last purchase gave Kristopher Co. the ability to exercise significant influence over Joshua Corp. The book value of Joshua on January 1, 2019 was $1,250,000. Any excess of cost over book value is assigned to a database which has a remaining life of five years at January 1, 2019. Joshua reports net income for 2019 of $265,000 and dividends were paid in 2019 of $60,000. Required: Calculate the balance in the Investment account at December 31, 2019