On January 1, 2021, X Inc. purchased voting shares of Y Inc. X has significant influence over Y. A

Question: You were given the following information: On January 1, 2021, X paid $107,000 for a 20% share. Given the information below, calculate the value of the investment account as of December 31, 2023. Y's net income and declared dividends for the following three years are as follows:

Year - Net Income (loss) - Dividends:

2021 ($25,000) $5,000

2022 $70,000 $10,000

2023 $30,000 $60,000