Several years ago, a parent company acquired all of the outstanding common stock of its subsidiary for a purchase price of $$275,000.$ On the acquisition date, this purchase price was $$68,000$ more than the subsidiary$$s book value of Stockholders$$ Equity. The AAP was entirely attributable to Goodwill. On the date of acquisition, the parent company management believes that the goodwill only has a $10-$year useful life. Since the date of acquisition, the subsidiary has reported cumulative net income of $$234,000$ and paid $$97,000$ of dividends to its parent company.

Compute the balance of the Equity Investment account on the parent$$s pre$-$consolidation balance sheet assuming that the Goodwill asset has not declined in value subsequent to the date of acquisition.