Kramer Corporation had the following long-term investment transactions.

Jan 2 Purchased 5,000 shares of Optic, Inc. for $42 per share plus $7,000 in fees and commission. These shares represent a 35% ownership of Optic.

Oct 15 Received Optic, Inc. cash dividend of $2 per share.

Dec 31 Optic reported a net loss of $66,000 for the year.

Prepare the journal entries Kramer Corporation should record for these transactions and events.