Renfroe, Inc. acquires 10% of Stanley Corporation on January 1, 2010, for $90000 when the book value of Stanley was $1,000,000. During 2010, Stanley reported net income of $215,000 and paid dividends of $50,000. On January 1,2011, Renfroe purchased an additional 30% of Stanley for $325,000. Any excess of cost over book value is attributable to goodwill with an indefinite life. (6marks)

During 2011, Renfroe reported net income of $320,000 and paid dividends of $50000.

What is the balance in the Investment in Stanley Corporation on December 31,2011?