### What is balance in the investment account on december

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On January 1, 2011, Bangle Company purchased 30% of the voting common stock of Sleat Corp. for \$1,000,000. Any excess of cost over book value was assigned to goodwill. During 2011, Sleat paid dividends of \$24,000 and reported a net loss of \$140,000. What is the balance in the investment account on December 31, 2011?

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