Sofie Company buys stock in Nut Corporation in cash on January 1, 2020, and reports the investment as having no significant influence.

The percentage of investment 15% Amount paid  $6,000,000

On January 1, 2022 Sofie Company makes the following additional investment in Nut Corporation and changes to the equity method of reporting for this investment:

The additional percentage of investment 25% Additional amount paid  $15,000,000

December 31, 2020 December 31, 2021

Fair value of the 15% investment is as follows: $6,200,000 $6,450,000

Nut Corporation reported the following amounts for the years:  

2020 2021 2022

Net Income $150,000 $200,000 $250,000

Cash dividends (Paid at year-end) $50,000 $80,000 $100,000  

Additional information: Nut Corporation reported no comprehensive income and any basis difference is attributed to goodwill. 

A. Prepare all the journal entries that Sofie Company would record for the investment in Nut Corporation for 2020, 2021, and 2022. Journal entries should be set up in good form. You need to provide dates, use appropriate account titles, and include an explanation below each journal entry.

B. Develop a table showing the calculation of what the amount Sofie Corporation will report on the balance sheet for the investment in Nut Corporation on December 31, 2022.

I am having some trouble with part b in the above question. Can anyone help direct me in the right way?