Heritage Ltd, was organized on January 2, 2023. The following investment transactions and events occurred during the following months: 2023 Jan. 6 Heritage paid $590,500 (including transaction fees of $50 ) for $1,500 shares (201) of Port Inc. outstanding comnon shares. Apr. 30 Port declared and paid a cash dividend of $1.10 per share. Dec. 31 Port announced that its profit for 2023 was $630,000. Fair value of the shares was $13.30 per share. 2024 Qct. 15 Port declared and paid a cash dividend of $0.70 per share. Dee. 31 Port announced that its profit for 2024 was $780,000. Fair value of the shares was $13.68 per share. 2025 Jan. 5 Heritage sold all of its investment in Port for $697,000 cash. Assume that Heritage has a significant influgnce over Port with its 20% share. Required: 1. Prepare the entries to record the preceding transactions in Heritage's books. 2. Calculate the carrying value per share of Heritage's investment as reflected in the investment account on January 4,2025 , (Round your answer to 2 decimal places.) 3. Calculate the change in Heritage's equity from January 2,2023 , through January 5,2025 , resulting from its investment in Port