Assignment Print View On January 4, 2018, Runyan Bakery paid $342 million for investment represents a 30% interest in the net assets 10 million shares of Lavery Labeling Company common stock. The of Lavery and gave Runyan the abilityto exercis e significant influence over Lavery's operations. Runyan received dividends of $3 50 per share on December 15, 2018, and Lavery reported net income rlion for the year ended December 31, 2018. The market value of Lavery's common stock at December 31, 2018, was $31 per shar On the purchase date, the book value of Lavery's net assets was $890 million and a. The fair value of Lavery's depreciable assets, with an average remaining useful ife of five years, exceeded their book value by $100 million. 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. Prepare all appropriate journal entries related to the investment during 2018, assuming Runyan accounts for this investment by the equity method. 2 Prepare the ournal entries required by Runyan, assuming that the 10 million shares represent a 10% nterest in the net assets of Lavery rather than a 30% interest