Frank Ltd. obtained significant influence over Nowak Industries by buying 30% of Nowak's 30,000 outstanding ordinary shares at a total cost of 9 per share on January 1, 2022. On June 15, Nowak declared and paid a cash dividend of 30,000. On December 31, Nowak reported a net income of 80,000 for the year. Prepare all necessary journal entries for 2022 for Frank Ltd.(3%)