Hamilton Ltd. was organized on January 2, 2014. The following investment transactions and events subsequently occurred:

Assume that Hamilton has a significant influence over Ginto with its 20% share.

Required
1. Give the entries to record the preceding transactions in Hamilton€™s books.
2. Calculate the carrying value per share of Hamilton€™s investment as reflected in the investment account on January 4, 2016.
3. Calculate the change in Hamilton€™s equity from January 6, 2014, through January 5, 2016, resulting from its investment inGinto.

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2014 6 Jan. Hamilton paid $575,500 for 50,000 shares (20%) of Ginto Inc. outstanding common shares. Apr 30 Ginto declared and paid a cash dividend of $1.10 per share. Dec. 31 Ginto announced that its net income for 2014 was $480,000. Fair value of the shares was $11.80 per share. Oct. Dec. 2015 15 31 Ginto declared and paid a cash dividend of $0.70 per share. Ginto announced that its net income for 2015 was $630,000. Fair value of the shares was $12.18 per share. 2016 5 Jan. Hamilton sold all of its investment in Ginto for $682,000 cash.