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On January 1, Puckett Company paid $1.91 million for 95,500 shares of Harrisons voting common stock, which represents a 40 percent investment. No allocation to

On January 1, Puckett Company paid $1.91 million for 95,500 shares of Harrisons voting common stock, which represents a 40 percent investment. No allocation to goodwill or other specific account was made. Significant influence over Harrison is achieved by this acquisition and so Puckett applies the equity method. Harrison declared a $1 per share during the year and reported net income of $656,000. What is the balance in the Investment in Harrison account found in Pucketts financial records as of December 31?

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