On January 4, 2021. Runyan Bakery paid $338 million for 10 million shares of Lovery Labeling Company common stock. The Investment represents a 30% Interest in the net assets of Lavery and gave Runyan the ability to exercise significant Influence over Lavery's operations. Runyan received dividends of $2.00 per share on December 15, 2021, and Lavery reported net income of $220 million for the year ended December 31, 2021 The market value of Lavery's common stock at December 31, 2021, was $33 per share. On the purchase date, the book value of Lavery's identifiable net assets Was $870 million and a. The for value of Levery's depreciable assets. With an average remaining useful life of five years, exceeded their book value by $50 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 investment by the equity method 2. Prepare the journal entries required by Runyan, assuming that the 10 million shares represent o 10% interest in the net assets of Cavery rather than a 30% interest Complete this question by entering your answers in the tabs below. Hequired Drepare all appropriate journal entries related to the investment during 2011 in Ruhan acount for the intent by the wuty method, no entired for stanovant et entry told you went in re 10.000.000 should be enteret Journal entry worksheet cand the rate of being stock for 30 min