answer this please

During the year, the following transaction occurred: On January 1, Corporation MOCK, a public company, purchases 20% of ABC Corporation's common shares for $262,000 for strategic purposes. For the year ended December 31, ABC Corporation reports profit of $229,000 and pays a $15,000 cash dividend. The fair value of Corporation MOCK's investment in ABC Corporation at December 31 is $277,000. Prepare journal entries required assuming Corporation MOCK has significant influence over ABC Corporation. As the main purpose of this investment is for strategic purposes (significant influence), the Corporation will use the equity method as the basis of measurement. Instructions: (1) Prepare the initial journal entries to record each of the transactions in the current year. Hint: If no entry applicable, specifically state No Entry Hint: Exert extra caution over the account names used