Covington Corporation acquired 25% of the common shares of Sharp Inc. on January 1, 2022, by paying $2,210,000 for 78,000 shares. Both companies are publicly-traded companies. Sharp declared and paid a $0.50 per share cash dividend on June 30 and again on December 31, 2022. Sharp reported net income of $1,040,000 for the year. At December 31, the fair value of the Sharp shares was $29 per share. (a) Prepare the journal entries for Covington Corporation for 2022 assuming Covington cannot exercise significant influence over Sharp and decides to hold the shares as a trading investment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1 Trading Investments 2210000 Cash 221001 June 30 Cash Dividend Income Dec. 31 Cash Dividend Income (To record dividends.) Dec. 31 Trading Investments Unrealized Gain on Trading Investments (To record unrealized gain / loss on trading investments.)