Heritage Ltd. was organized on January 2, 2020. The following investment transactions and events occurred during the following months: 55 es 2020 Jan. 6 Heritage paid $580,500 for 50,500 shares (20%) of Port Inc. outstanding common shares. Apr.30 Port declared and paid a cash dividend of $1.10 per share. Dec.31 Port announced that its profit for 2020 was $530,000. Fair value of the shares was $12.30 per share. 2021 Oct. 15 Port declared and paid a cash dividend of $0.70 per share. Dec.31 Port announced that its profit for 2021 was $680,000. Fair value of the shares was $12.68 per share. 2022 Jan. 5 Heritage sold all of its investment in Port for $687,000 cash. Assume that Heritage has a significant influence over Port with its 20% share. Docuired. rev 3 of 3 Score answer > Heritage Ltd. was organized on January 2, 2020. The following investment transactions and events occurred during the following months: 55 es 2020 Jan. 6 Heritage paid $580,500 for 50,500 shares (20%) of Port Inc. outstanding common shares. Apr.30 Port declared and paid a cash dividend of $1.10 per share. Dec.31 Port announced that its profit for 2020 was $530,000. Fair value of the shares was $12.30 per share. 2021 Oct. 15 Port declared and paid a cash dividend of $0.70 per share. Dec.31 Port announced that its profit for 2021 was $680,000. Fair value of the shares was $12.68 per share. 2022 Jan. 5 Heritage sold all of its investment in Port for $687,000 cash. Assume that Heritage has a significant influence over Port with its 20% share. Docuired. rev 3 of 3 Score answer >