8 On 1 April 1987 FRY Ltd. purchased 10 000 ordinary shares of R1 each in TLS Ltd. at a cost of R20 500. On 1 September 1987 TLS declared and paid a dividend of 15 cents per share for the year ended 30 June 1987. On 1 November 1987 TLS gave its members the right to subscribe for 1 ordinary share of R1 for every eight held on 1 November 1987 at a price of 150 cents per share. On 15 November 1987 FRY purchased for 40 cents per share the rights of another shareholder in TLS to subscribe for 750 shares under the rights issue. On 30 November 1987 FRY applied and paid for all the shares in TLS to which it was entitled. On 8 September 1988 TLS declared and paid a dividend of 15 cents per share for the year ended 30 June 1988 on all the shares, including those issued in 1987. On 1 October 1988 FRY sold 4 500 ordinary shares in TLS for R9 875. The accounting year of FRY ends on 31 December. FRY does not make apportionments of dividends received or receivable. When part of a holding of shares is sold, it is the practice of FRY to calculate the cost of the shares sold as an appropriate part of the average cost of all shares held at the date of sale. Required: You are required to show the investment account in the books of FRY for the two years ending 31 December 1987 and 31 December 1988, bringing down the balance at the end of each year. (20)