On January 4, 2024, Colton Corporation acquired 30% of the outstanding common stock of Hicks Company for $1,300,000. This acquisition gave Colton the ability to exercise significant influence over the investee. The book value of the acquired shares was $1,175,000. Any excess cost over the underlying book value was assigned to a copyright that was undervalued on Hickss balance sheet. This copyright has a remaining useful life of ten years. For the year ended December 31, 2024, Hicks reported net income of $368,000 and paid cash dividends of $107,000.

Required: Prepare a schedule to show the balance Colton should report as its Investment in Hicks Company at December 31, 2024.