Heritage Ltd. was organized on January 2, 2020. The following investment transactions and events occurred during the following months: 2020 Jan. 6 Heritage paid $581,500 for 50,600 shares (20%) of Port Inc. outstanding common shares. Apr. 30 Port declared and paid a cash dividend of $1.20 per share. Dec. 31 Port announced that its profit for 2020 was $540,000. Fair value of the shares was $12.40 per share. 2021 Oct. 15 Port declared and paid a cash dividend of $0.80 per share. Dec. 31 Port announced that its profit for 2021 was $690,000. Fair value of the shares was $12.78 per share. 2022 Jan. 5 Heritage sold all of its investment in Port for $688,000 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 Heritages books. 2. Calculate the carrying value per share of Heritages investment as reflected in the investment account on January 4, 2022. (Round your answer to 2 decimal places.) 3. Calculate the change in Heritages equity from January 2, 2020, through January 5, 2022, resulting from its investment in Port.