The following selected account balances were taken from the financial statements of Blue Inc. concerning its long-term investment in shares of Swifty Inc. over which it has had significant influence since 2017:

		Dec. 31, 2020			Dec. 31, 2019
Investment in associate, Swifty Inc.		$504,900			$427,200
Investment income recorded for Swifty		17,550			10,100

At December 31, 2020, the following information is available:

1.		Blue purchased additional common shares in Swifty Inc. on January 2, 2020, for $66,000. As a result of this purchase, Blues ownership interest in Swifty increased to 45%.
2.		Swifty reported income of $39,000 for the year ended December 31, 2020.
3.		Swifty declared and paid total dividends of $13,000 on its common shares for the year ended December 31, 2020.

(a)

Determine the balance of the Investment in Swifty Inc. account at December 31, 2020, assuming Blue Inc. uses the equity method for this investment.

Balance Dec. 31, 2020

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