The summarized balance sheets of Sheridan Company and Pina Company as of December 31, 2021 are as follows:

Sheridan Company Balance Sheet December 31, 2021
Assets	$2600000
Liabilities	$350000
Capital stock	1300000
Retained earnings	950000
Total equities	$2600000
Pina Company Balance Sheet December 31, 2021
Assets	$2000000
Liabilities	$460000
Capital stock	1250000
Retained earnings	290000
Total equities	$2000000

If Sheridan Company acquired a 20% interest in Pina Company on December 31, 2021 for $297500 and during 2022 Pina Company had net income of $155000 and paid a cash dividend of $65000, applying the fair value method would give a debit balance in the Equity Investments (Pina) account at the end of 2022 of

$297500.

$232500.

$328500.

$315500.