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On January 3,2021 , Roberts Company purchased 30% of the 100,000 shares of common stock of Thomas Corporation, paying $1,500,000. There was noodwill or other
On January 3,2021 , Roberts Company purchased 30% of the 100,000 shares of common stock of Thomas Corporation, paying $1,500,000. There was noodwill or other cost allocation associated with the investment. Roberts has significant influence over Thomas. During 2021 , Thomas reported net income of $300,000 and paid dividends of $100,000. On January 4,2022 , Roberts sold 15,000 shares for $800,000. What is the balance in the investment account after the sale of the 15,000 shares
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