QUESTION #$2$:$-(10$ MARKS$)$

The Y Company has $100,000$ of its shares trading on the New York Stock Exchange. On January $2^{nd},2021,x$ Company purchases $20,000$ of $Y\text{'}$s common shares for $$700,000.$ The purchase of this block of common shares gives $x$ a significant ability to influence the operating, investing, and financing decisions of $Y.$

In $2021,$ Y reported net income of $$115,000$ and dividends declared and paid were $$65,000.$

In $2022,$ Y reported net income of $$120,000$ and paid dividends of $$70,000.$

At January $2^{nd},2023,x$ sold $5,000$ of its common shares in $Y$ leaving $x$ with an ownership of $15,000$ common shares in Y Company. $Y\text{'}$s shares at this date was trading at $$50\mathrm{.}00$ per share.

At December ${31}^{**t}\mathrm{.}2023,Y$ reported net income of $$130,000$ and paid dividends of $$75\mathrm{.}000.$

Required:$-$

What is the balance in the investment account for the investment of $x$ in $Y\text{'}$s common shares at December $31.2023(10$ marks$).$