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, 2016, for $580 million. At the date of purchase, the book value of Vancouvers net assets was $865 million. The book values and falr values for all balance sheet Items were the same except for Inventory and plant faclities. The fair value exceeded book value by $5 million for the Inventory and by $30 million for the plant facilities sold during 2016. 2016. Vancouver pald a cash dividend of $40 million. Required: The estimated useful life of the plant facilities is 15 years. All Inventory acquired was Vancouver reported net income of $200 million for the year ended December 31, 1. Prepare all appropriate journal entries related to the investment during 2016. (if no entry is requlred for e transaction/event, select "No Journal entry required" in the first account fleld. Enter your answers in millions rounded to 1 decimal place, (.e., 5,500,000 should be entered as 5.5%) Journal entry worksheet Record the entry related to the purchass General JourmaDebitc Event