Common shares Macron Corp. On January 1, 2015, Mosaic Inc. acquired 125,000 shares or 25% of the outstanding shares of Macron Corp. at $20 per share plus brokerage commission of $50,000. Mosaic now has significant influence over Macron. The following information relates to Macron Corp. during 2014: On July 31, 2015, the company declared and paid a dividend of $1.50 per share The companys net income for 2015, earned evenly during the year, was $4,000,000. It included a loss from discontinued operations (net of tax) of $600,000 On December 31, 2015, the shares of Macron were trading at $24 per share. Required: Prepare journal entries to record the investment on January 1, 2015, the receipt of the dividend and any adjusting entries required at year-end.