Kingbird Donald Inc. acquired 20% of the outstanding common stock of Theresa Ivanhoe Inc. on December 31, 2025. The purchase price was $1,205,000 for 48,200 shares. Ivanhoe Inc. declared and paid an $0.85 per share cash dividend on June 30 and on December 31, 2026. Ivanhoe reported net income of $692,000 for 2026. The fair value of Ivanhoe's stock was $28 per share at December 31, 2026. Assume that the security is a trading security. Prepare the journal entries for Kingbird Donald Inc. for 2025 and 2026, assuming that Donald cannot exercise significant influence over Ivanhoe. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Dec. 31, 2025 Equity Investments Cash June 30, 2026 Cash Equity Investments Dec. 31, 2026 Fair Value Adjustment Unrealized Holding Gain or Loss - Equity (To record dividend.) Fair Value Adjustment Equity Investments Debit 1205000 40970 36400 48200 Credit 1205000 40970 36400 48200 su