1. On January 1, 2015, IB Corporation purchased 30 percent of the outstanding 36,000 common shares of CXT at $2 per share. CXT data on this date were as follows:

Additional data for CXT, at end of accounting period December 31, 2015: (Significant influence is in existence), 2015 net income was $10,000, and total 2015 cash dividends declared and paid were $4,000.

1. The goodwill purchased was $_____________________. 2. Give the required entries to account for this investment during 2015: January 1, 2015 (initial investment): December 31, 2015 (year-end journal entries). 3. The following amounts should be reported on the 2015 financial statements of IBC: (a) Income statement: Investment revenue $____________________. (b) Balance sheet: Investment, CXT $___________________.