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25)

Vaughn Inc. acquired all of the outstanding common

stock of Roberts Co. on January 1, 2020, for $276,000.

Annual amortization of $21,000 resulted from this

acquisition. Vaughn reported net income of $80,000 in 2020

and $60,000 in 2021 and paid $24,000 in dividends each year.

Roberts reported net income of $50,000 in 2020 and $57,000

in 2021 and paid $12,000 in dividends each year. What is the

Investment in Roberts Co

.

balance on Vaughn's books

as of December 31, 2021,

if the equity method has

been applied?