River Corporation was organized on January 2, 2014. River Corporation issued 50,000 common shares for $250,000 on that date. The following investment transactions and events subsequently occurred:

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

Required
1. Give the entries to record the preceding transactions in River Corporation€™s books.
2. Calculate the carrying value per share of River Corporation€™s investment as reflected in the investment account on January 1, 2016.
3. Calculate the change in River Corporation€™s equity from January 12, 2014, through January 6, 2016, resulting from its investment in TurnerLtd.

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2014 12 Jan. River Corporation acquired 12,000 shares of Turner Ltd. at a cost of $250,000. This investment represented 24% of Turner's outstanding shares. Turner Ltd. declared and paid a cash dividend of $1.00 per share. Turner Ltd. announced that its net income for 2014 was $125,000. % ofTurner's outstanding Mar. Dec. 31 31 2015 Aug. 15 Turner Ltd. declared and paid a cash dividend of $0.80 per share. Dec. 31 Turner Ltd. announced that its net loss for 2015 was $95,000 2016 Jan. 6 River Corporation sold all of its investment in Turner Ltd. for $230,000 cash