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On January 2, 2019, Sun Co. purchased 15% of Moon, Inc.'s outstanding common shares for $500,000. Sun is the largest single shareholder in Moon and

On January 2, 2019, Sun Co. purchased 15% of Moon, Inc.'s outstanding common shares for $500,000. Sun is the largest single shareholder in Moon and Sun's officers are a majority on Moon's board of directors. Moon reported net income of $700,000 for 2019, and paid dividends of $200,000. In its December 31, 2019, balance sheet, what amount should Sun report as investment in Moon?

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