On 3 January 20X4, Windsor Company purchased 30% of the shares of Brampton for $565,000 cash. Windsor will use the equity method. On this date, Brampton has $2,000,000 of assets, $1,600,000 of liabilities, and $400,000 of equity. Book values reflect fair values except for $800,000 of equipment, which has a five-year life and a fair value of $1,000,000. In 20X4, Brampton pays $30,000 of total dividends and reports earnings of $100,000. Required: 1. Calculate goodwill on acquisition, and the annual extra depreciation on investee equipment at fair value.

2. Prepare 20X4 journal entries for Windsor Company. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

• Record the investment made in Brampton Corp.
• Record the Investment revenuE
• Record the receipts of cash dividends paid by Brampton

3. At the end of 20X4, what is the balance in the investment account?