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XYZ Corp purchased 250,000 shares of ABC, Inc. common stock for $10 per share on...

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Accounting

XYZ Corp purchased 250,000 shares of ABC, Inc. common stock for $10 per share on January 1, 2020. ABC, Inc. has 1,000,000 shares issued and outstanding. ABC, Inc. paid a dividend of $1.00 per common stock share on October 15, 2020. ABC, Inc. reported Net Income of $2,000,000 for the year ended December 31, 2020. The fair value of ABC, Inc. common stock on December 31, 2020 is $12.00/share.

What is XYZ Corps Investment in ABC, Inc. account balance as of December 31, 2020?

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