Lawn corporation acquired 25% of the common shares of Sharp Inc. on January 1 2022, by paying $1,972,000 for 69,600 shares. Both companies are publicly-traded companies. Sharp declared and paid a $0.50 per share cash dividend on june 30 and again on December 31,2022. Sharp reported net income of $928,000 for the year. at December 31 the fair value of the sharp was $29 per share.

Make a journal entry for Lawn corporation 2022 assuming Lawn can exercise significant influence over Sharp. ( also record the dividends and share of profit)