On January 3, 2020, Baxter, Inc. acquired 40% of the outstanding common stock of Anchor Co. for $2,800.000. This investment gave Baxter the ability to exercise significant influence over Anchor. Anchor's assets on that date were recorded at $11,700,000 with liabilities of $4,700,000. There were no other differences between book and fair values. During 2020, Anchor reported net income of $600,000. For 2021, Anchor reported net income of $900,000. Dividends of $350,000 were paid in each of these two years. What was the reported balance of Boxter's Investment in Anchor Co. at December 31, 20217 Multiple Choice $2,800,000 $2,900,000 53.260,000 On January 1, 2021. Lee Company paid $1.870,000 for 80,000 shares of Thomas Co's voting common stock which represents a 45% investment. No allocation to goodwill or other specific account was necessary. Significant influence over Thomas was achieved by this acquisition, Thomas distributed a dividend of $2.00 per share during 2021 and reported net income of $720,000. What was the balance in the Investment in Thomas Co. account found in the financial records of Lee as of December 31, 20212 Multiple Choice O $2.354000 52.158.000 $2,114,000 $2.034.000