Franklin purchases 40 percent of johnson company on january 1 for $610,500. although franklin did not use it, this acquisition gave franklin the ability to apply significant influence to johnson’s operating and financing policies. johnson reports assets on that date of $1,567,000 with liabilities of $580,000. one building with a seven-year remaining life life is undervalued on johnson’s books by $141,750. also, johnson’s book value for its trademark (10-year life) is undervalued by $397,500. during the year, johnson reports net income of $99,000 while declaring dividends of $30,000. what is the investment in johnson company balance (equity method) in franklin’s financial records as of december 31?