Peace Company issued common shares with a par value of $59,000 and a market value of $165,900 in exchange for 30 percent ownership of Symbol Corporation on January 1, 20x2. Symbol reported the following balances on that date SYMBOL CORPORATION Balance Sheet January 1, 20x:2 Book Value Fair Value Assets Cash Accounts Receivable Inventory (FIFO basis) Land Buildings & Equipment Less: Accumulated Depreciation Patent Total Assets $ 55,000 81,000 126,000 51,000 502,000 (242,000) $ 55,000 81,000 156,000 66,000 329,000 32,000 $ 573,000 $719,000 Liabilities & Equities Accounts Payable Bonds Payable Common Stock Additional Paid-In Capital Retained Earnings Total Liabilities& Equities $ 25,000 141,000 146,000 15,000 246,000 $573,000 $ 25,000 141,000 The estimated economic life of the patents held by Symbol is 4 years. The buildings and equipment are expected to last 6 more years on average. Symbol paid dividends of $10,000 during 20X2 and reported net income of $81,000 for the year Required Compute the amount of investment income (loss) reported by Peace from its investment in Symbol for 20X2 and the balance in the investment account on December 31, 20X2, assuming the equity method is used in accounting for the investment. (If a loss occurs, enter the amount as a negative number.) Investment income (loss) Balance in the investment account