In early January 2020, Marigold Inc., a private enterprise that applies ASPE, purchased 40% of the common shares of Washi Corp. for $377,000. Marigold was now able to exercise considerable influence in decisions made by Washis management. Washi Corp.s statement of financial position reported the following information at the date of acquisition:

Assets not subject to being amortized		$189,000
Assets subject to depreciation (10 years average life remaining)		570,000
Liabilities		106,000

Additional information:

1.		Both the carrying amount and fair value are the same for non-depreciable assets and for liabilities.
2.		The fair value of the assets subject to depreciation is $690,000.
3.		The company depreciates its capital assets on a straight-line basis.
4.		Washi reported net income of $150,000 and declared and paid dividends of $103,000 in 2020.

Assuming Marigold applies the equity method to account for its investment in Washi, prepare the journal entries to record Marigold's equity in the net income and the receipt of dividends from Washi Corp. in 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Investment in Associate Investment Income or Loss (To record collection of dividend) Cash Investment in Associate (To record investment income) Investment in Associate Investment Income or Loss (To record depreciation of fair value difference)