Fizer Pharmaceutical paid $74 million on January 2, 2021, for 2 million shares of Carne Cosmetics common stock. The investment represents a 25% interest in the net assets of Carne and gave Fizer the ability to exercise significant influence over Carnes operations. Fizer received dividends of $2 per share on December 21, 2021, and Carne reported net income of $48 million for the year ended December 31, 2021. The fair value of Carnes common stock at December 31, 2021, was $24.50 per share.

• The book value of Carne's net assets was $172 million.
• The fair value of Carne's depreciable assets exceeded their book value by $36 million. These assets had an average remaining useful life of nine years.
• The remainder of the excess of the cost of the investment over the book value of net assets purchased was attributable to goodwill.

Required: Complete the table below and prepare the appropriate journal entries related to the investment during 2021.

Calculation General Journal Prepare the appropriate journal entries related to the investment during 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions, (i.e., 10,000,000 should be entered as 10).) No Transaction General Journal Debit Credit 1 1 Investment in equity affiliate 74 Cash 74 2 2 Investment in equity affiliate 3 x Investment revenue 3 x 3 3 Cash Investment in equity affiliate 9 x 4 4 Investment revenue 1 Investment in equity affiliate 1