Flamingo Financial Incorporated (Flamingo) purchased 3,000 of the 100,000 common shares of Pelican Limited (Pelican) on October 15, 20X2 at $50 per share plus a 4% brokerage fee Flamingo held the investment for two years and finally sold all the shares in October 20X4 for $142,000. The market value of the 3,000 Pelican shares was $180,000 at the end of 20X2 $139,000 at the end of 20X3, and $131,000 at the end of 20X4 Pelican declares and pays cash dividends on its common stock only once in each year and this is done always in the month of December. Pelican's dividends records show that the company declared annual dividends per share in the amounts of S0.80, $1.00, and $1.10 in 20X2, 20X3 and 20X4 respectively Both Flamingo and Pelican are public companies with shares actively trading on the TSX. For financial reporting purposes, Flamingo's management decided to opt for early adoption of IFRS 9: Financial Instruments three years ago Required: Prepare all 20X2, 20X3, and 20X4 journal entries related to the above investment, and show the effects on Flamingo Financial Incorporated's balance sheet, income statement, and statement of comprehensive income for each of the three years, assuming that it is appropriate for Flamingo to account for its investment in the Pelican shares as investment at (i) fair value through profit and loss (FV-NI), with dividend income and gain/loss on investment reported separately (ii) fair value through profit and loss (FV-NI), with dividend income and gain/loss on investment not reported separately (iii) fair value through other comprehensive income (FV-OCI)