The summarized balance sheets of Pharoah Company and Sheridan Company as of December 31, 2021 are as follows: Pharoah Company Balance Sheet December 31, 2021 Assets $2000000 $220000 1000000 Liabilities Capital stock Retained earnings Total equities 780000 $2000000 Sheridan Company Balance Sheet December 31, 2021 Assets $1480000 Liabilities Capital stock Retained earnings Total equities $330000 990000 160000 $1480000 If Pharoah Company acquired a 30% interest in Sheridan Company on December 31, 2021 for $350000 and the equity method of accounting for the investment were used, the amount of the debit to Equity Investments (Sheridan) would have been