Anyone know how to answer number 1 and 2? The bottom picture is my answer. The red ones are wrong. Please help thanks

Intermediate Accounting Ch 12 graded HW 10.00 points On January 4, 2016, Runyan Bakery paid $358 million for 10 million shares of Lavery Labeling Company common stock. The investment represents a 30% interest in the net assets of Lavery and gave Runyan the ability to exercise significant influence over Lavery's operations. Runyan received dividends of $3.50 per share on December 15, 2016, and Lavery reported net income of $320 million for the year ended December 31 2016. The market value of Lavery's common stock at December 31, 2016, was $34 per 2016. The market value of Lavery's common stock at December share. On the purchase date, the book value of Lavery's net assets was $970 million and: a. The fair value of Lavery's depreciable assets, with an average remaining useful life of seven years, exceeded their book value by $70 milion. b. The remainder of the excess of the cost of the investment over the book value of net assets purchased was attributable to goodwill. Required: 1. puepare al iae unal ennes reet Surng 2016 asuming Runyan accounts for this investment by the equity method. (If no entry is required for Enter your select "No journal entry required" in the first account field. answers in millions.(e, 10,000,000 should be entered as 10)-) view transaction list view general journal 1 Investment in Lavery Labeling shares 358 Cash 358 Investment in Lavery Labeling shares 96 2 Investment revenue 96 3 Cash 35 Investment in Lavery Labeling shares 35 4 Investment revenue 18 Investment in Lavery Labeling shares 18 5 No journal entry required Nojournal entry required 5 - 2. Prepare the journal entries required by Runyan, assuming that the 10 million shares reresent a 10% interest in the net assets of Lavery rater tan a 30% interest (t no entry is required for a transactionlevent saleot No journal entry required" in the first account field. Enter your aniswers in miitions. (1.e.,10,000,000 should be entered as 10)) view transaction list view general journal