Boomer Inc. purchased for cash 40% of Small Corporations 30,000 outstanding common shares at a cost of $ 10 per share on January 2, 2020. The purchase price of $ 10 per share was based solely on the book value of Smalls net assets. Therefore, there was no acquisition differential. On October 21, 2020, Small declared and paid a total cash dividend of $ 30,000 to all its shareholders. On December 31, Boomers year end, Small reported net income of $ 15,000 for the year. Small shares had a fair value of $ 14.75 per share at December 31. Boomer Inc., a private Canadian corporation, applies IFRS. Prepare all the journal entries related to Boomers investment in Small for the year.