Cowboys Corporation purchases a 25% interest in Giants Corporation on January 2, 2020, for $ 800.000. At that time, the carrying amount of Giants' net assets was $ 2,952,000. Any excess of the cost of the investment over the Cowboys' share of the Giants' carrying amount can be attributed to unrecorded intangibles with a useful life of 20 years. Giants declared and paid a dividend of S 16,000 and reported a net income of $ 52,000 for its year ended December 31, 2020. Cowboys is considered to have significant influence on Giants. Instructions Assume Cowboys is a publicly accountable enterprise that applies IFS. Prepare Cowboys' 2020 entries to record all transactions and events related to the investment in its associate on: Prepare Cowboys' 2020 entries to record all transactions and events related to the investment in its associate on: ) January 2, 2020, (2 marks) in) December 31, 2020. (9 marks) Calculate the valuc of Cowboys investment on Giants on December 31, 2020. (4 marks)