In 2015 Company Blue purchases a 35% interest in Company McGregor for $200,000. Company Blue exercises significant influence over Company McGregor but has not established control over the entity. Company Blue follows IFRS. The following are details of Company McGregor's financial activity: In 2016, Company McGregor declares a dividend of $150,000 and reports net income of $220,000. In 2017, Company McGregor's company value increased to $600,000 due to an expansion into new territory and they reported net income of $100,000. In 2018, the Company reported a dividend of $160,000 and reported a net loss of $300,000. In 2019, Company Blue sold their investment in Company McGregor for $430,000. Record the journal entries (showing the debits and credits) that Company Blue needs to record in it's financial statements to accurately represent the investment in Company McGregor. Show your work/calculations to obtain partial marks. Sample Answer: Year 2018: Dr. XXX Cr. XXX Entry is to represent... =(200,000)*0.10