List P Parents.com Kroger - Digital Coupo Undedernal browser=0&launchUrl=https: Free Printable Grocery Message Up to 50% Off Sale 110 y: Homework (due day 7) Saved Help Save & Exit Submit Check my work Northwest Paperboard Company, a paper and allied products manufacturer, was seeking to gain a foothold in Canada. Toward that end, the company bought 40% of the outstanding common shares of Vancouver Timber and Milling, Inc., on January 2, 2021, for $460 million. At the date of purchase, the book value of Vancouver's net assets was $805 million. The book values and fair values for all balance sheet items were the same except for inventory and plant facilities. The fair value exceeded book value by $5 million for the inventory and by $30 million for the plant facilities. The estimated useful life of the plant facilities is 15 years. All inventory acquired was sold during 2021. Vancouver reported net income of $200 million for the year ended December 31, 2021 Vancouver paid a cash dividend of $20 million Required: 1. Prepare all appropriate journal entries related to the investment during 2021. 2. What amount should Northwest report as its income from its investment in Vancouver for the year ended December 31, 2021? 3. What amount should Northwest report in its balance sheet as its investment in Vancouver? 4. What should Northwest report in its statement of cash flows regarding its investment in Vancouver? Complete this question by entering your answers in the tabs below. Add to BabyList P Parents.com Un.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https Kroger - Digital Coupo... Free Printable Grocery - Message Up to 50% Off Sale 11 1 - Apply: Homework (due day 7] A Saved 5 Req 1 Req 2 and 3 Req 4 What should Northwest report in its statement of cash flows regarding its investment in Vancouver? (Ente positive values. Enter your answers in millions. (.e., 10,000,000 should be entered as 10).) apped Operating cash flow Investing cash flow million Book million rint Add to BabyList P Parents.com Un.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https Kroger - Digital Coupo... Free Printable Grocery - Message Up to 50% Off Sale 11 1 - Apply: Homework (due day 7] A Saved 5 Req 1 Req 2 and 3 Req 4 What should Northwest report in its statement of cash flows regarding its investment in Vancouver? (Ente positive values. Enter your answers in millions. (.e., 10,000,000 should be entered as 10).) apped Operating cash flow Investing cash flow million Book million rint