Question: ework Saved Help Save & Problem 1-6 (LO 1-3) On January 1, Puckett Company paid $2.76 million for 69,000 shares of Harrison's voting common stock,

ework Saved Help Save & Problem 1-6 (LO 1-3) On January 1, Puckett Company paid $2.76 million for 69,000 shares of Harrison's voting common stock, which represents 40 percent investment. No allocation to goodwill or other specific account was made. Significant influence over Harrison is achieved by this acquisition and so Puckett applies the equity method. Harrison declared a $1 per share during the year and reported net income of $596,000. What is the balance in the Investment in Harrison account found in Puckett's financial records as of December 31? Multiple Choice $3,287000 $2,929,400 $2,998,400.

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