Frank Co. owns 30% of the voting common stock of Alex Services Inc. Frank uses the equity method to account for its investment. On January 1, 2021, the balance in the investment account was $800,000. During 2021, Alex Services reported net income of $150,000 and paid dividends of $40,000. Any excess of fair value over book value is attributable to goodwill with an indefinite life. What is the balance in the investment account as of December 31, 2021