On January 1, 2020, Garretson Company purchased 30% of Dial Corporation's outstanding common stock for $530,000 cash. The fair value and book value of Dial's assets were equal on the date of the purchase. Garretson records this investment using the equity method. Dial's 2020 net income was $160,000. Dial also paid a dividend of $4,000 during 2020. The fair value of the investment was $550,000 on December 31, 2020. For what amount should the investment in Dial be reported on Garretson's December 31, 2020 balance sheet