On January 1, 20X7, Pizza Company acquired 80 percent of Slice Company by purchasing 80,000 shares of Slice's common stock. There was no differential related to this transaction. The noncontrolling interest had a fair value equal to 20 percent of book value. The book value of Slice's net asset on December 31, 20X7 was $500,000. On January 1, 20X8, Pizza purchased 10,000 additional shares of Slice for $55,000 in cash from nonaffiliated party. Pizza used the equity method in accounting for its ownership of Slice. What was the balance in the Noncontrolling in Net Asset account reported in consolidated financial statement on January 1, 20X8, AFTER Pizza purchased additional of shares?