On January 2, 2XX0, Member Corporation purchased 35% of the outstanding common stock of Entertainment, Inc. and subsequently used the equity method to account for the investment. At the time of the acquisition, Entertainment's net assets had fair values approximating book values. During 2XX0 Entertainment, Inc. reported net income of $600,000 and distributed dividends of $150,000. The ending balance in the Investment in Entertainment, Inc. account at December 31, 2XX0 was $750,000 after applying the equity method during 2XX0.

Provide the journal entries required during the year:

		Debit	Credit
1.	Cash, Equity Income, Equity Investment, Gain on sale, Goodwill, intangible asset, Loss on sale	x
	Cash, Equity Income, Equity Investment, Gain on sale, Goodwill, intangible asset, Loss on sale		x
	(To record the purchase of the equity investment.)
2.	Equity Investment	210,000
	Equity Income		210,000
	(To recognize investee's net income.)
3.	Cash	52,500
	Equity Investment		52,500

Just need help on #1, 2 and 3 are correct entries and numbers