On January 1, 2024 West Coast Boats paid $ 1,850,000 for its 30% investment in East Coast Autos. After the purchase, West Coast Boats has no significant influence over East Coast Autos. East Coast Autos earned net income of $30,000,000 and paid cash dividends of $15,000,000 to all outstanding stockholders during 2024. Assume all outstanding stock is voting stock. Requirement: 1. Journalize all required 2024 transactions related to West Coast Boats' investment in East Coast Autos. Omit explanations. 2. What is the December 31, 2024 balance of the investment account? Label your work.

\begin{tabular}{|l|l|l|l|} \hline \multicolumn{1}{|c|}{ Date } & Accounts and Explanations & Debit & Credit \\ \hline 2024 & & & \\ \hline Jan. 1 & & & \\ \hline & & & \\ \hline Dec. 31 & & & \\ \hline & & & \\ \hline & & & \\ \hline Dec. 31 & & & \\ \hline & & & \\ \hline \end{tabular}