Baskin purchased $22,000$ common shares $(20\%)$ of Robbin on January $1,$ Year $5,$ for $$277,000$ and classified the investment as FVTPL$.$

Robbin reported net income of $$87,000$ in Year $5$ and $$92,000$ in Year $6,$ and paid dividends of $$42,000$ in each year. Robbin's shares

were trading at $$15$ per share on December $31,$ Year $5,$ and January $1,$ Year $6.$ On January $1,$ Year $6,$ Baskin obtained significant

influence over the operating, investing, and financing decisions of Robbin when the controlling shareholder sold some shares in the

open market and lost control over Robbin. Accordingly, the investment in Robbin was reclassified to an investment in associate. On

December $31,$ Year $6,$ Baskin sold its investment in Robbin for $$16$ per share.

Required:

Prepare all journal entries for Years $5$ and $6$ related to Baskin's investment in Robbin. $($If no entry is required for a transaction$/$event$,$

select $"$No journal entry required" in the first account field.$)$ Journal entry worksheet

Record share of Robin's income.

Note: Enter debits before credits. Journal entry worksheet

Record Baskin's share of dividends declared by Robbin.

Note: Enter debits before credits. Journal entry worksheet

Record sale of investment in Robbin.

Note: Enter debits before credits.