1.Record the initial investment

2.Record the dividend declaration

3. Record the receipt of the dividend

4.Record the accrual of income and OCI from equity investee

Harper, Inc., acquites 40 percent of the outstanding voting stock of Kinman Company on January 1. 2020. for $322.000 in cash. Th book value of Kinman's net assets on that date was $665.000, although one of the company's buildings, with a $70.800 carrying amount, was actually worth $114,300. This buliding had a 10-year remaining life. Kinman owned a royalty agreement with a 20 -year remaining life that was undervalued by $96,500. Kinman sold inventory with an original cost of $116,580 to Harper during 2020 at a price of $174,000. Harper still held $25,500 (transter price) of this amount in inventory as of December 31, 2020. These goods are to be sold to outside parties during 2021 . Kinman reported a $42,800 net loss and a $25,400 other comprehensive loss for 2020 . The company still manages to declare and pay a 514,000 cash dividend during the year, During 2021. Kinman reported a $54,200 net income and declared and paid a cash dividend of 516,000 . it made additonal inventory sales of $86.000 to Harper during the period. The original cost of the merchandise was 553.750. All but 30 percent of this inventory had been resold to outude parties by the end of the 2021 fiscal yeat. Prepare all journal entries for Harper for 2020 and 2021 in coninection with this imvestiment. Assume that the equity method is applied. (if no entry is required for a trensection/event, select "No journal entry required" in the first account field. Do not round intermediote colculntions.)