Equity Method Accounting: Pawn Corporation reported the following balances at January 1, 2012:

Item	Book Value	Fair Value
Cash & Accounts Receivable	210,000	210,000
Equipment, net	240,000	300,000
Internally Developed Software	300,000	520,000
Accounts Payable	(150,000)	(150,000)
Common Stock ($10 Par Value)	(200,000)
Additional Paid in Capital	(60,000)
Retained Earnings	(340,000)

On January 1, 2012, King Corporatin purchased 30% of Pawn Corporation's voting stock for $300,000 Cash. As a result, King has the ability to exercise significant influence over pawn. On this date, Pawn's equipment had a remaining useful life of 5 years, while the software's life was estimated at 10 years. During 2012, pawn declared and paid cash dividends of $20,000 and reported net income of $100,000 for the year. In addition, at year end, pawn's inventory balance includes $60,000 of product purchased from King where King recognized a 20% gross margin.

Required: Give all journal entries that King recorded during 2012 with respect to its investment. Also, what is the investment account balance that King will report at year end?