n January 1, 2020, Amazon owns 100% of Whole Foods which reports a Stockholders' Equity of $1,200,000, including 30,000 shares of $1 par value common stock outstanding.This acquisition was made at book value. During the year, Whole Foods sells 25,000 of its unissued shares to outsiders for $62 per share.

Assuming this is the only transaction during the year, what is the balance of Amazon's pre-consolidation Equity Investment Account at December 31, 2020?

$1,500,000

$1,320,000

None of the answer choices is correct.

$2,130,000

$1,420,000