5 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, 2018, 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 and by $30 million for the plant facilities. Skipped The estimated useful life of the plant facilities is 15 years. All inventory acquired was sold during 2018. Vancouver reported net income of $180 million for the year ended December 31, 2018. Vancouver paid a cash dividend of $20 million. eBook Print Required: 1. Prepare all appropriate journal entries related to the investment during 2018. 2. What amount should Northwest report as its income from its investment in Vancouver for the year ended December 31, 2018? 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? References Complete this question by your answers in the tabs below. Reg 1 Req 2 and 3 Req 4 What should Northwest report in its statement of cash flows regarding its investment in Vancouver? (Enter your answers in millions. (i.e., 10,000,000 should be entered as 10).) Operating cash flow Investing cash flow million million