On january 1, puckett company paid $1.6 million for 50,000 shares of harrison's voting common stock, which represents a 40 percent investment. no allocation to goodwill or other specific account was m

On january 1, puckett company paid $1.6 million for 50,000 shares of harrison's voting common stock, which represents a 40 percent investment. no allocation to goodwill or other specific account was made. significant influence over harrison is achieved by this acquisition and so puckett applies the equity method. harrison declared a $2 per share dividend during the year and reported net income of $560,000. what is the balance in the investment in harrison account found in puckett's financial records as of december 31?