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. Incorporated on January 2. 2024, for $540 milion. At the date of purchase, the book value of Vancouver's net assets was $845 million. The book values and fair values for all balance inventory and by $30 million for the plant facilities. The estimated useful iffe of the plant faclities is 15 years. All inventory acquired was sold during 2024. Vancouver reported net income of $160 million for the year ended December 31,2024 . Vancouver poid a cash dividend of $50 million. Required: 1. Prepare all appropriate journal entries related to the investment during 2024 . 2. 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