On January 1, 2014, Fancy Associates purchased 30 percent of the outstanding shares of stock of Ashley Corp. for $100,000 cash. The investment will be accounted for by the equity method. On that date, Ashley's net assets (book and fair value) were $225,000. Fancy has determined that the excess of the cost of its investment in Ashley over its share of Ashley's net assets is attributable to a building whose market value exceeds its carrying value by $90,000 and to a Trade Mark whose market value exceeds its carrying value by $80,000. The remaining useful life of the building is ten years and the remaining useful life of the Trade Mark is 20 years.
Ashley's net income for the year ended December 31, 2014, was $40,000. During 2014, Fancy received $4,000 cash dividends from Ashley. There were no other transactions between the two companies.
Compute the amount that would be reported on Fancy’s' books for the investment in Ashley Corp. at December 31, 2014.