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On January 1, 2017, Nash Co. purchased 23,000 shares (a 10% interest) in Elton John...

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On January 1, 2017, Nash Co. purchased 23,000 shares (a 10% interest) in Elton John Corp. for exist1, 430,000. At the time, the book value and the fair value of John's net assets were exist13, 800,000. On July 1, 2018, Nash paid exist3, 220,000 for 46,000 additional shares of John common stock, which represented a 20% investment in John. The fair value of John's identifiable assets net of liabilities was equal to their carrying amount of exist15, 100,000. As a result of this transaction, Nash owns 30% of John and can exercise significant influence over John's operating and financial policies. (Any excess fair value is attributed to goodwill.) John reported the following net income and declared and paid the following dividends Determine the ending balance that Nash Co. should report as its investment in John Corp. at the end of 2018. Investment in Elton John Corp. exist 18, 582, 050

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