Heritage Ltd. was organized on January 2, 2020. The following Investment transactions and events occurred during the following months: 2020 Jan. 6 Heritage paid $593,500 for 51,800 shares (20%) of Port Inc. outstanding common shares. Apr. 30 Port declared and paid a cash dividend of $1.40 per share Dec. 31 Port announced that its profit for 2020 was $660,000. Fair value of the shares was $13.60 per share 2021 Oct. 15 Port declared and paid a cash dividend of $1.00 per share. Dec.31 Port announced that its profit for 2021 was $810,000. Fair value of the shares was $23.98 por share. 2022 Jan. 5 Heritage sold all of its investment in Port for $700,000 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