On july 1, 2021, tremen corporation acquired 30% of the shares of delany company. tremen paid $3,160,000 for the investment, and that amount is exactly equal to 30% of the book value of identifiable net assets on delany's balance sheet. delany recognized net income of $1,100,000 for 2021, and paid $140,000 of dividends each quarter to its shareholders. after all closing entries are made for the year ended december 31, 2021, tremen's "investment in delany company" account would have a balance of:
