A B C D F G H 1 (30 Points 2 Marsh Corporation acquired 30% of Presh Inc. for $2,000,000 on January 1, 2018. The fair 3 value and book value of 30% of Presh's identifiable net assets was $2,000,000 and $1,600,000 4 on that date and the difference was attributable to assets that would depreciate over 20 5 years. 6 7 During 2018 Presh recognized net income of $500,000 and paid dividends of $400,000. Presh 8 had a total fair value of $10,000,000 as of December 31, 2018. 9 10 Required: 11 (1) Prepare the journal entries necessary to account for Presh investment. 12 (2) Compute the amount that would be reported for the investment on Marsh's financial 13 statements at December 31, 2018 14 15 16 J