On Jan. 1, 2023 Apex Company purchases 30,000 shares of the common stock of Cary Industries for $2,000,000. Cary Industries has 100,000 shares of common stock issued and outstanding  As a result of this investment Apex is given 3 of the 8 seats on Cary's board of directors. For 2023 Cary reports net income of $350,000.  On  June 1 and Sept. 1 Cary Industries pays a dividend of $0.25 per share to its shareholders.  Required: At what amount should this investment be reported on Apex's balance sheet at Dec. 31, 2023?

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Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.