I attempted Requirment 1 and got some of it correct, but not sure how to fix what I missed. Any help would be appreciated.

Req 1

Req 2

Here's the transaction list for req 1

On January 4, 2021. Runyan Bakery paid $328 million for 10 million shares of Lavery Labeling Company common stock. The investment represents a 30% interest in the net assets of Lavery and gave Runyan the ability to exercise significant influence over Lavery's operations. Runyan chose the fair value option to account for this investment. Runyan received dividends of $2 per share on December 15, 2021. and Lavery reported net income of $170 million for the year ended December 31, 2021. The market value of Lavery's common stock at December 31, 2021 was $31 per share on the purchase date, the book value of Lavery's identifiable net assets was $820 million and a. The fair value of Lavery's depreciable assets, with an average remaining useful life of six years, exceeded their book value by $60 million b. The remainder of the excess of the cost of the investment over the book value of net assets purchased was attributable to goodwill. Required: 1-a. Prepare all appropriate journal entries related to the investment during 2021, assuming Runyan accounts for this investment under the tor value option, and accounts for the livery investment in a manner similar to what it would use for securities for which there is not significant influence 1-b. Calculate the effect of these journal entries on 2021 net income, and the amount at which the investment is carried in the December 31, 2021 balance sheet 2-o. Prepare all appropriate Journal entries related to the investment during 2021, assuming Runyan accounts for this investment under the fair value option, but uses equity method accounting to account for Lavery's income and dividends, and then records a fair value adjustment at the end of the year that allows it to comply with GAAP 2.b. Calculate the effect of these journal entries on 2021 net income, and the amount at which the investment is carried in the December 31, 2021 balance sheet (Note: You should end up with the same total 2021 income offect and some carrying value on the balance sheet for requirements 1 and 2) Answer is not complete. Complete this question by entering your answers in the tabs below. Req1A Reg 13 Reg 2 Reg 20 Prepare all appropriate journal entries related to the investment during 2021, assuming Runyan accounts for this investment under the fair value option, and accounts for the Lavery Investment in a manner similar to what it would use for securities for Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Reg 2A Reg 20 Prepare all appropriate journal entries related to the investment during 2021, assuming Runyan accounts for this investment under the fair value option, and accounts for the Lavery investment in a manner similar to what it would use for securities for which there is not significant influence (if no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in millions (ie, 10,000,000 should be entered as 10).) Show less No Credit Transaction 1 General Journal Investment in equity securities Cash Debit 328 1 328 2 2. 51 Investment in equity securities Investment revenue 51 3 3 25 Cosh Dividend revenue 25 4 4 3 18 Investment revenue Investment in equity securities 18 (RA Red 18 > Required: 1-a. Prepare all appropriate journal entries related to the investment during 2021, assuming Runyan accounts for this investment under the fair value option, and accounts for the Lavery investment in a manner similar to what it would use for securities for which there is not significant influence. 1-b. Calculate the effect of these journal entries on 2021 net income, and the amount at which the investment is carried in the December 31, 2021, balance sheet. 2-a. Prepare all appropriate journal entries related to the investment during 2021, assuming Runyan accounts for this investment under the fair value option, but uses equity method accounting to account for Lavery's income and dividends, and then records a fair value adjustment at the end of the year that allows it to comply with GAAP. 2-6. Calculate the effect of these journal entries on 2021 net income, and the amount at which the investment is carried in the December 31, 2021, balance sheet. (Note: You should end up with the same total 2021 income effect and same carrying value on the balance sheet for requirements 1 and 2) Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Req 2A Req 20 Calculate the effect of these Journal entries on 2021 net income, and the amount at which the investment is carried in the December 31, 2021, balance sheet. (Enter your answers in milions (e. 10,000,000 should be entered as 10).) $ Effect on net income Investment 0 million 310 million S Reg 1A Reg 1B Reg 2A Reg 2B Prepare all appropriate journal entries related to the investment during 2021, assuming Runyan accounts for this investment under the fair value option, but uses equity method accounting to account for Lavery's income and dividends, and then records a fair value adjustment at the end of the year that allows it to comply with GAAP. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in millions (le, 10,000,000 should be entered as 10).) Show less View transaction list X 1 Record the purchase of Lavery Labeling stock for $328 million. 2 Record Runyan Bakery's share of Lavery's $170 million net income. 1 Record the receipt of cash dividends of $2.5 per share on 10 million shares. Credit 4 Record any necessary entry related to depreciation. The fair value of Lavery's depreciable assets, with an average remaining useful life of six years, exceeded their book value by $60 million 5 Record any necessary adjusting entry to correctly report Note - Journal entry has been entered Record entry Clear entry View general Journal Required: 1-a. Prepare all appropriate journal entries related to the investment during 2021, assuming Runyan accounts for this investment under the fair value option, and accounts for the Lavery investment in a manner similar to what it would use for securities for which there is not significant influence 1-b. Calculate the effect of these journal entries on 2021 net income, and the amount at which the investment is carried in the December 31, 2021, balance sheet. 2-a. Prepare all appropriate journal entries related to the investment during 2021, assuming Runyan accounts for this investment under the fair value option, but uses equity method accounting to account for Levery's income and dividends, and then records a fair value adjustment at the end of the year that allows it to comply with GAAP. 2-6. Calculate the effect of these journal entries on 2021 net income, and the amount at which the investment is carried in the December 31, 2021 balance sheet. (Note: You should end up with the same total 2021 income effect and same carrying value on the balance sheet for requirements 1 and 2.) Complete this question by entering your answers in the tabs below. Reg 1A Reg 18 Req ZA Req 28 Calculate the effect of these Journal entries on 2021 net income, and the amount at which the investment is carried in the December 31, 2021, balance sheet. (Note: You should end up with the same total 2021 Income effect and same carrying value on the balance sheet for requirements 1 and 2.) (Enter your answers in millions (I., 10,000,000 should be entered as 10). Net incomo Investment million million Note : Journal entry has been entered