Pharoah, Inc. acquired $30\%$ of Sheridan Corporation's voting stock on January $1,2025$ for $$920000.$ In $2025,$ Sheridan earned $$376000$ and paid dividends of $$234000.$ Pharoah's $30\%$ interest in Sheridan gives Pharoah the ability to exercise significant influence over Sheridan's operating and financial policies. In $2026,$ Sheridan earned $$476000$ and paid cash dividends of $$134000$ on April $1$ and $$134000$ on October $1.$ On July $1,2026,$ Pharoah sold half of its stock in Sheridan for $$636000$ cash. The carrying amount of this investment reported in Pharoah's December $31,2025$ balance sheet is

$$1032800.$

$$1062800.$

$$920000.$

$$962600.$