On January 1, Belleville Company paid $2,760,000to acquire 69,000 shares of O'Fallon's voting common stock, which represents a 40% investment. No allocations to goodwill or other specific accounts were made. Significant influence over O'Fallon is achieved by this acquisition, and so Bellville applies the equity method. O'Fallon declared a $1 per share dividend during the year and reported net income of $596,000. What is the balance in the investment in O'Fallon account found in Bellvile's financial records as of December 31?