Saved 1 On January 3, 2021 Matteson Corporation acquired 30 percent of the outstanding common stock of O'Toole Company for $1.261,000. This acquisition gave Matteson the ability to exercise significant influence over the investee. The book value of the acquired shares was $841,000. Any excess cost over the underlying book value was assigned to a copyright that was undervalued on its balance sheet. This copyright has a remaining useful life of 10 years. For the year ended December 31, 2021, O Toole reported net income of $321,000 and deciated cash dividends of $35,000. On December 31, 2021, what should Matteson report as its investment in O'Toole under the equity method? & 01:47:41