Peace Company issued common shares with a par value of $52,000 and a market value of $162,300 in exchange for 30 percent ownership of Symbol Corporation on January 1, 20X2. Symbol reported the following balances on that date: Fair Value $ 43,000 93,000 163,000 69,000 329,000 SYMBOL CORPORATION Balance Sheet January 1, 20X2 Book Value Assets Cash $ 43,000 Accounts Receivable 93,000 Inventory (FIFO basis) 133,000 Land 54,000 Buildings & Equipment 500,000 Less: Accumulated Depreciation (240,000) Patent Total Assets $ 583,000 Liabilities & Equities Accounts Payable $ 23,000 Bonds Payable 159,000 Common Stock 144,000 Additional Paid-In Capital 13,000 Retained Earnings 244,000 Total Liabilities & Equities $ 583,000 26,000 $723,000 $ 23,000 159,000 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 $11,000 during 20x2 and reported net income of $80,000 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