As a long-term investment, Painters' Equipment Company purchased 20% of AMC Supplies Incorporated's 480,000 shares for $560,000 at the beginning of the fiscal year of both companies. On the purchase date, the fair value and book value of AMCs net assets were equal. During the year, AMC earned net income of $330,000 and distributed cash dividends of 25 cents per share. At year-end, the fair value of the shares is $593,000

Record the cash dividend of 25 cents per share.

Record any necessary year-end adjusting journal entry when the fair value of the shares held are $593,000 at year-end.