Instructions On January 1, 2016, Tiger Company purchased 6,720 shares of Eagle Corporation's common stock when Eagle had 22.400 shares outstanding on that are the following information pertained to Eagle: Eagle Corporation Balance Sheet January 1, 2016 Book Value Fair Value 5620,000.00 300,000.00 $600,000.00 290,000.00 2 Depreciable assets (remaining life, 8 years) 3 Other non-depreciable assets Previous Next Emater Sweat Check My Work All work saved MacBook Air Instructions 4 Total $890,000.00 $920,000.00 5 Liabilities $330,000.00 $300,000.00 590,000.00 6 Shareholders' equity Total $890,000.00 During 2016, Eagle earned net income of $120,000 and paid total dividends of $48,000. Required: Prepare the journal entries of Tiger related to its share of Eagle's net income and dividends in 2016. Chart of Accounts CHART OF ACCOUNTS Tiger Company General Ledger ASSETS 111 Cash REVENUE 114 Investment in Available-for-Sale Securities 119 Allowance for Change in Fair Value of Investment 411 Sales Revenue 423 Investment Income 431 Interest Income 121 Accounts Receivable 141 Inventory 152 Prepaid Insurance 181 Equipment EXPENSES 500 Cost of Goods Sold 511 Insurance Expense