on January 2, 2023 pax river corp purchased 39% of the common shares of Eli company for 1,890,000. during the year Eli earned income of 540,000 and paid dividends to common shareholders totaling 610,000.

One prepare the journal entries for PAX River to record the purchase and any additional entries related to the investments in 2023 assume that Pax River has significant influence over Eli, and does not elect the fair value option

On March 15, 2020 for PAX River sells their entire investment and Eli company for 1,250,000 record the journal entry for the cell what amount of gain or loss does Pax River realize on the sale