Information pertaining to long-term share investments in 2020 by Tate Corporation follows: Acquired 10% of the 250,000 ordinary shares of of Barkly Company at a total cost of $8 per share on January 1, 2020. On July 1, Barkly Company declared and paid a cash dividend of $2 per share. On December 31, Barkly's reported net income was $654,000 for the year. Obtained significant influence over Tolan Company by buying 25% of Tolan's 100,000 outstanding shares at a total cost of $22 per share on January 1, 2020. On June 15, Tolan Company declared and paid a cash dividend of $1.50 per share. On December 31, Tolan's reported net income was $280,000. Instructions Prepare all necessary journal entries for 2020 for Tate Corporation.(E191)