Ontario Company acquired 40% of the voting stock of Grizzly Company $81 million cash. In year 1, Grizzly had a net income of $40 million and paid cash dividends of 30 million.

Requirement:

1. Prepare a tabulation that uses the equity method of accounting for Ontario's investment in Grizzly. Show the effects of the balance sheet equation. What is the year-end balance in the investment in Grizzly account under the equity method?