Charlie Co.owns 30% of the voting common stock of Turf Services Inc.Charlie uses the equity method to account for its investment.On January 1, 2018, the balance in the investment account was $624,000.During 2018, Turf Services reported net income of $120,000 and paid dividends of $30,000.Any excess of fair value over book value is attributable to goodwill with an indefinite life.
What is the balance in the investment account as of December 31, 2018?

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The Answer of Charlie Co.owns 30% of the voting common stock of Turf Services Inc.Charlie uses the equity method to account for its investment.On January 1, 2018, the balance in the investment account was $624,000.During 2018, Turf Services reported net income of $120,000 and paid dividends of $30,000.Any excess of fair value over book value is attributable to goodwill with an indefinite life.
What is the balance in the investment account as of December 31, 2018?