Heritage Ltd$.$ was organized on January $2,2023.$ The following investment transactions and events occurred during the following months:

$2023$

Jan. $6$ Heritage paid $$577,500($including transaction fees of $$50)$ for $50,200$ shares $(20\%)$ of Port Inc. outstanding common shares.

Apr. $30$ Port declared and paid a cash dividend of $$1\mathrm{.}30$ per share.

Dec. $31$ Port announced that its profit for $2023$ was $$500,000.$ Fair value of the shares was $$12\mathrm{.}00$ per share.

$2024$

Oct. $15$ Port declared and paid a cash dividend of $$0\mathrm{.}90$ per share.

Dec. $31$ Port announced that its profit for $2024$ was $$650,000.$ Fair value of the shares was $$12\mathrm{.}38$ per share.

$2025$

Jan. $5$ Heritage sold all of its investment in Port for $$684,000$ cash.

Assume that Heritage has a significant influence over Port with its $20\%$ share.

Required:

$1.$ Prepare the entries to record the preceding transactions in Heritage$$s books.