On January 1,2020, Archer, Incorporated, paid $100.000 for a 30 N inserest in Harley Corporation. This investee had assets with a book value of $550,000 and fabilties of 5300,000 A patent held by Hariey having a book value of $10,000 was actublly worth $40,000 with a six year temaining life. Any goodwit associated with this acquistion is considered to have an indefinite ife. Ouring 2020, Harley reperted net income of $50,000 and paid dividends of $20,000 while in 2021 it ieported net income of $75,000 and dividends of $30,000. Assume Areher has the ablity to significantly influence the operatons of Harley. The balance in the imvestment in Harley account at December 31, 2020, is