On August 1, McLain Finance Inc. buys 3,000 Datawave common shares for trading purposes for $114,000 cash. On October 15, McLain receives a cash dividend of $2.75 per share from Datawave. On December 1, McLain sells the shares for $120,000 cash. Prepare the journal entries to record the 

(a) Purchase of the shares

(b) Receipt of the dividend

(c) Sale of the shares.