On January 2, 2017 Mire Corp purchased 12,000 Yellow Corp common shares at $21 per share plus a $4,200 commission. On August 6, 2017 Yellow Corp declared and paid dividends of $1.10 per share, and on December 31, it reported a net income of $200,000 and market/fair value of the investment is $275,000. Assume Yellow Corp has 34,000 common shares outstanding and Mire Corporation has significant influence.

1. Prepare the necessary journal entries for Liza Corp for Jan 2, Aug 6 and Dec 31 assuming significant influence and using equity method

2. What would be the ending balance in the Investment account at year end?