On 1 January 2016, Y Ltd acquired 100 000 shares (30 percent of the voting interest) in P Ltd for $900 000 cash. On 30 June 2016, P Ltd announced its earnings per share for the first six months of 2016 at $2.00 per share. On 20 November, P Ltd paid dividends to shareholders at $1.20 per share. On 31 December 2016, P Ltd announced its earnings per share for 2016 at $3.50 per share (i.e. $1.50 additional since 30 June).

1. If Y Ltd used the cost basis, what was the balance sheet value of its investment in P Ltd at 31 December 2016?

2. If Y Ltd used the cost method, what dividend revenue did it record for the year ended 31 December 2016 in respect of its investment in P Ltd?

3. If Y Ltd used the cost method, what would have been the impact of P Ltd's 30 June 2016 earnings announcement?

4. If Y Ltd used the equity basis, what was the balance sheet value of its investment in P Ltd at 31 December 2016?

5. If Y Ltd used the equity basis, what revenue did it record for year ended 31 December 2016 in respect of its investment in P Ltd?

6. If Y Ltd used the equity method, what would have been the impact of P Ltd's 31 December 2016 earnings announcement?