River Outdoor Supply Corporation (River Corp.) was organized on January 2, 2020. River Corp. issued 50,000 common shares for $250,000 on that date. The following investment transactions and events subsequently occurred:

Assume that River Corp. has significant influence over Turner Ltd. with its 24% share.

Required

1. Give the entries to record the preceding transactions in River Corp.?s books.

2. Calculate the carrying value per share of River Corp.?s investment as reflected in the investment account on January 1, 2022.

3. Calculate the change in River Corp.?s equity from January 12, 2020, through January 6, 2022, resulting from its investment in Turner Ltd.

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2020 Jan. 12 Turner's outstanding shares. River Corp. acquired 12,000 shares of Turner Ltd. at a cost of $250,000. This investment represented 24% of Turner Ltd. declared and paid a cash dividend of $1.00 per share. Mar. 31 Dec. 31 Turner Ltd. announced that its profit for 2020 was $125,000. 2021 Turner Ltd. declared and paid a cash dividend of $0.80 per share. Aug. Dec. 15 Turner Ltd. announced that its loss for 2021 was $95,000. 31 2022 River Corp. sold all of its investment in Turner Ltd. for $230,000 cash. 6. Jan.