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(PDE Transcript.pdf X Careers X Eminem - Like Toy Soldiers (Offic X Connect X Homework Help - Q&A from On x + X - https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flearn.liberty.edu%252Fweba.. APerformance EMail Lu Liberty Home Bb Blackboard d College EMail in Linkedin ; Indeed Thrift Savings Plan GGoogle Other favorites Chapter 12 i Saved Help Save & Exit Submit Check my work 11 Northwest Paperboard Company, a paper and allied products manufacturer, was seeking to gain a foothold in Canada. Toward that end, the company bought 40% of the outstanding common shares of Vancouver Timber and Milling, Inc., on January 2, 2021, for $560 million. 2 points At the date of purchase, the book value of Vancouver's net assets was $855 million. The book values and fair values for all balance sheet items were the same except for inventory and plant facilities. The fair value exceeded book value by $5 million for the inventory eBook and by $30 million for the plant facilities. Print The estimated useful life of the plant facilities is 15 years. All inventory acquired was sold during 2021. Vancouver reported net income of $180 million for the year ended December 31, 2021. Vancouver paid a cash dividend of $20 million. Required: 1. Prepare all appropriate journal entries related to the investment during 2021. 2. What amount should Northwest report as its income from its investment in Vancouver for the year ended December 31, 2021? 3. What amount should Northwest report in its balance sheet as its investment in Vancouver? 4. What should Northwest report in its statement of cash flows regarding its investment in Vancouver? Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Req 4 Prepare all appropriate journal entries related to the investment during 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 1 decimal place, (i.e., 5,500,000 should be entered as 5.5).) Mc Graw Hill 11 of 11 ducation Type here to search 23:43 28/10/2020 E(PDE Transcript.pdf X Careers X Eminem - Like Toy Soldiers (Offic X Connect X Homework Help - Q&A from On x + X - https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flearn.liberty.edu%252Fweba.. APerformance EMail Lu Liberty Home Bb Blackboard College EMail i in Linkedin Indeed Thrift Savings Plan G Google Other favorites Chapter 12 i Saved Help Save & Exit Submit Check my work 11 Required: 1. Prepare all appropriate journal entries related to the investment during 2021. 2. What amount should Northwest report as its income from its investment in Vancouver for the year ended December 31, 2021? 3. What amount should Northwest report in its balance sheet as its investment in Vancouver? 2 4. What should Northwest report in its statement of cash flows regarding its investment in Vancouver? points Complete this question by entering your answers in the tabs below. eBook Print Req 1 Req 2 and 3 Req 4 What amount should Northwest report as its income from its investment in Vancouver for the year ended December 31, 2021 and in its balance sheet as its investment in Vancouver? (Enter your answers in millions rounded to 1 decimal place, (i.e., 5,500,000 should be entered as 5.5).) 2 . Income statement amount million 3 . Balance sheet amount million Screenshot Added A screenshot was added to your Dropbox. Mc Graw Hill Type here to search S 23:43 28/10/2020(PDE Transcript.pdf X Careers X Eminem - Like Toy Soldiers (Offic X Connect X Homework Help - Q&A from On x + X - https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flearn.liberty.edu%252Fweba.. APerformance EMail Lu Liberty Home Bb Blackboard College EMail i in Linkedin Indeed Thrift Savings Plan G Google Other favorites Chapter 12 i Saved Help Save & Exit Submit Check my work 11 Required: 1. Prepare all appropriate journal entries related to the investment during 2021. 2. What amount should Northwest report as its income from its investment in Vancouver for the year ended December 31, 2021? 3. What amount should Northwest report in its balance sheet as its investment in Vancouver? 2 4. What should Northwest report in its statement of cash flows regarding its investment in Vancouver? points Complete this question by entering your answers in the tabs below. eBook Print Req 1 Req 2 and 3 Req 4 What should Northwest report in its statement of cash flows regarding its investment in Vancouver? (Enter all amounts as positive values. Enter your answers in millions. (i.e., 10,000,000 should be entered as 10).) Operating cash flow million Investing cash flow million Mc Graw Hill ducation Type here to search S 23:43 28/10/2020