Spring Limited (Spring) first acquired common shares of Winter Company (Winter) in 2017. At all relevant times, Winter Company had 100,000 issued and outstanding shares with a stated value of $1,000,000. No new shares have been issued by Winter at any point in time. Both corporations have a December 31 year-end.

1. On January 1, 2017, Spring acquired 4,000 common shares of Winter for cash of $64,000. On November 1, 2017, Winter declared and paid dividends of $36,000. Winter reported net income of $54,000 in 2017. On December 31, 2017, the shares were trading at $23 per share. Management classified this investment as fair value through other comprehensive income (FVTOCI).
2. On June 30, 2018, Spring acquired an additional 32,000 common shares of Winter for cash of $928,000. This second acquisition of shares was enough to give Spring significant influence over the key decision-making for Winter. Spring is using the equity method to record its investment in Winter. The entire acquisition differential was allocated to a patent. No goodwill was acquired. The patent has a useful life of twenty (20) years. On June 30, 2018, Winter had retained earnings of $1,200,000. Winter reported a net loss of $34,000 from July 1, 2018 to December 31, 2018.
3. On January 1, 2019, Spring acquired an additional 50,000 common shares of Winter for cash of $1,200,000. Spring now has control over Winter. The entire acquisition differential was allocated to a patent. No goodwill was acquired. The remaining useful life of the patent is nineteen and half (19.5) years. Spring is using the equity method to record its investment in Winter. During 2019, Winter is reporting net income of $106,000 and declared and paid dividends of $80,000 on December 31, 2019.
4. On January 1, 2020, Spring acquired an additional 14,000 common shares of Winter for cash of $336,000. In 2020, Winter reported net income of $144,000 and declared and paid dividends of $80,000 on December 31, 2020.

1. Calculate the fair value of the Investment in Winter on December 31, 2017.
2. Calculate the balance in the Investment in Winter account as at June 30, 2018.
3. Calculate the balance in the Investment in Winter account as at December 31, 2018.
4. Prepare all relevant journal entries on January 1, 2019 for Spring Limited.
5. Calculate the balance in the Investment in Winter account as at December 31, 2019.
6. Prepare all relevant journal entries on January 1, 2020 for Spring Limited.
7. Calculate the balance in the Investment in Winter account as at December 31, 2020.