On January 1, 2011, Joyce Inc. paid $600,000 to purchase 25% of Mark Inc's outstanding voting shares. Joyce has significant influence over Mark. Mark's earnings for 2011 and 2012 were $100,000 and $200,000 respectively. Mark paid dividends in the amount of $20,000 and $10,000 during 2011 and 2012, respectively. Required: Calculate the balance in Joyce's Investment account as at December 31, 2012.

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The Answer of On January 1, 2011, Joyce Inc. paid $600,000 to purchase 25% of Mark Inc's outstanding voting shares. Joyce has significant influence over Mark. Mark's earnings for 2011 and 2012 were $100,000 and $200,000 respectively. Mark paid dividends in the amount of $20,000 and $10,000 during 2011 and 2012, respectively. Required: Calculate the balance in Joyce's Investment account as at December 31, 2012.