Tucker Inc. plans to use the equity method of accounting to account for its investment...
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Tucker Inc. plans to use the equity method of accounting to account for its investment in Key Corporation. The following information is available:1. On 1/1/2018, Tucker Inc. purchased $900,000 worth of Key Corp.s common stock. Tuckers ownership interest in Key Corp is 35%. 2. For 2018, Key Corp. reported net income totaling $1,200,000 and paid dividends of $215,000 to all its shareholders. The dividends were distributed on 12/31/18.
Based on the above facts, what should Tucker Inc. report as the investment account balance for the Key Corporation investment at the end of 2018?
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