A. Information pertaining to short term investments in 2016 by Walters Corporation follows: Acquired 15% of the 250,000 common shares of Ashley Limited at a total cost of $8 per share on January 25, 2016. On July 1, Ashley declared and paid a cash dividend of $2 per share. On December 31, Ashley's reported net earnings were $654,000 for the year and the market price is at $10 per share. (10 marks) B. Obtained significant influence over Webster Inc. by buying 30% of Webster's 100,000 common shares at a total cost of $24 per share on January 1, 2006. On June 15, Webster declared and paid a cash dividend of $1.50 per share. On December 31, Webster's reported net earnings were $300,000 and Webster's share price drop to $20 per share. (10 Marks) Instructions Prepare all necessary journal entries for 2016 for Walters Corporation