On January 4, 2021, Runyan Bakery paid $326 million for to milion shares of Lavery Labeling Company common. stock. The investment represents a 30% interest in the net as5ets of Lavery and gove Runyan the abilify to ciercise significant influence over Lavery's operations. Runyan recelved dlvidends of $3.50 per shate on December 15 , 2021 and Lavery reported net income of $160 million for the year ended December 31, 2021. The market walue of 1 averr/3 common stock at December 31, 2021, was $30 per share On the purchase date, the book value of liverys identifiable net assets was $810 miltion and: a. The fair value of Lavery's depreciable assets, with an average remaining useful iffe of four years, exceeded their, book value by $40 million. b. The remainder of the excess of the cost of the investment over the book value of net assets purchased was attributable to goodwill. Required: 1. Prepare all appropriate journal entries related to the investment during 2021 , assuming Runyan accounts for this inyestment by the equity method. 2. Prepare the journal entries required by Runyan, assuming that the 10 million shares represent a 10 ; interest in: the net assets of Lavery rather than 330% interest. Complete this question by entering your answers in the tabs below. Prepare all appropriate journal entries related to the investment during 2021, assuming Runyan accounts for this livestm Prepare all appropriate journal entries reiated to the investnenit dunng 2021, assuming Runyan accounts for this nivestim answers in millions. (i.e., 10,000,000 should be entered as 10).) Journal entry worksheet Record the purchase of Lavery Labeling stock for $326 million