Pole Manufacturing Corporation issued stock with a par value of $$69,000$ and a market value of $$503,500$ to acquire $95$ percent of

Spencer Corporation's common stock on August $30,20$X$1.$ At that date, the fair value of the noncontrolling interest was $$28,000.$ On

January $1,20$X$1,$ Spencer reported the following stockholders' equity balances:

Spencer reported net income of $$80,000$ in $201,$ earned uniformly throughout the year, and declared and paid dividends of $$10,000$

on June $30$ and $$25,000$ on December $31,20$X$1.$ Pole accounts for its investment in Spencer Corporation using the equity method.

Pole reported retained earnings of $$430,000$ on January $1,201,$ and had $201$ income of $$155,000$ from its separate operations. Pole

paid dividends of $$88,000$ on December $31,20$X$1.$

d$.$ Give the December $31,20$X$1,$ balance of Pole Manufacturing's investment in Spencer Corporation.