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Agee Corporation acquired a 38% interest in Trent Company on January 1, 2015, for $480,000....

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Accounting

Agee Corporation acquired a 38% interest in Trent Company on January 1, 2015, for $480,000. At that time, Trent had 1,000,000 shares of its $1 par common stock issued and outstanding. During 2015, Trent paid cash dividends of $154,000 and thereafter declared and issued a 5% common stock dividend when the fair value was $2 per share. Trent's net income for 2015 was $369,000. What is the balance in Agee's equity investment account at the end of 2015?

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