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 Incorporated on January $2,2024,$ for $$530$ million. At the date of purchase, the book value of Vancouver's net assets was $$840$ 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 $$10$ million for the Inventory and by $$15$ million for the plant facilities. The estimated useful life of the plant facilities is $12$ yearsAll inventory acquired was sold during $2024$ Vancouver reported net income of $$150$ million for the year ended December $31,2024.$ Vancouver paid a cash dividend of $$40$ million Required: $1.$ Prepare all appropriate journal entries related to the investment during $20242.$ What amount should Northwest report as its Income from its Investment in Vancouver for the year ended December $31,2024?3.$ 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?