Marsh Corporation acquired 30% of Presh Inc. for $2,000,000 on January 1,2018 . The fair value and book value of 30% of Presh's identifiable net assets was $2,000,000 and $1,600,000 on that date and the difference was attributable to assets that would depreciate over 20 years. During 2018 Presh recognized net income of $00,000 and paid dividends of $400,000. Presh had a total fair value of $10,000,000 as of December 31,2018. Required: (1) Prepare the journal entries necessary to account for Presh investment. (2) Compute the amount that would be reported for the investment on Marsh's financial statements at December 31,2018