E-Street Storage Inc. purchased 30% of the 10,000,000 outstanding shares of the common stock of Stevens Self-Storage for $12,000,000 on January 1, 2015. E-Street Storage elected the fair value option. During 2015, Stevens Self-Storage had net income of $1, 200,000 and did not pay dividends. During 2016, E-Street Storage received $425,000 of dividends from Stevens Self-Storage. Stevens Self-Storage had net income of $2, 100,000. The market price per share of Stevens Self-Storage at December 31, 2015 was $4.50 per share and the market price at December 31, 2016 was $4.15. Prepare all the necessary journal entries for 2015 and 2016