On January 1, Year 1, Head Ltd. purchased 50,000 common shares, representing 30% of the outstanding shares, of Toe Ltd. for $900,000. The assets of Toe included a building with a market value $300,000 greater than book value. The building had a remaining useful life of 10 years. During Year 1, Toe had a net income of $240,000 and paid dividends of $150,000. During Year 1, Head sold Toe merchandise for $200,000 at a gross profit rate of 40%. At year end, 50% of this merchandise remained in Toe's inventory. Head's tax rate is 30%. During Year 2, Toe had a net income of $280,000 and paid dividends of $160,000. At year end, the market price of the shares was $18. Required: a) Provide all the necessary Year 1 journal entries for Head Ltd. from purchase to all year-end adjustments, assuming they have significant influence. Your journal entries must be in standard form as per the assignment submission instructions. b) Show all calculations necessary to determine the end of Year 2 balance in Head's "Investment in Toe" account. Use a table format with one line per item and label each item. Provide the ending balance. Please highlight your final figure in yellow