Mento Corporation acquired 30% of Pez Inc. for $3,000,000 on January 1, 2020. The fair value and book value of 30% of Pez's identifiable net assets was $3,000,000 and $2,500,000 on that date and the difference was attributable to assets that would depreciate over 10 years. During 2020 Pez recognized net income of $600,000 and paid dividends of $300,000. Pez had a total fair value of $10,000,000 as of December 31, 2020. Required: (1) Prepare all the journal entries necessary to account for the investment in Pez. (2) What amount would Mento report as the value of its investment in Pez on its December 31, 2020 Balance Sheet