$1)$ Record the purchase of AMC Supplies shares for $$510,000$ as a long$-$term investment.

$2)$ Record Painters' Equipment's share of AMC Supplies' $$280,000$ net income.

$3)$ Record the cash dividend of $15$ cents per share.

$4)$ Record any necessary year$-$end adjusting journal entry when the fair value of the shares held are $$538,000$ at year$-$end.