Crane Inc. acquired $20\%$ of the outstanding common stock of Theresa Kulikowski Inc. on December $31,2020.$ The purchase price was

$$1,168,400$ for $50,800$ shares. Kulikowski Inc. declared and paid an $$0\mathrm{.}75$ per share cash dividend on June $30$ and on December $31,$

Kulikowski reported net income of $$663,000$ for $2021.$ The fair value of Kulikowski's stock was $$26$ per share at December $31,$

Prepare the journal entries for Crane Inc. for $2020$ and $2021,$ assuming that Crane cannot exercise significant influence over

Kulikowski. $($Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required,

select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

$($To record dividend.$)$

$($To record fair value.$)$