Monty Corporation purchased a 25% interest in Krov Corporation on January 2, 2017, for $1,000. At that time, the carrying amount of Krovs net assets was $3,460. Any excess of the cost of the investment over Montys share of Krovs carrying amount can be attributed to unrecorded intangibles with a useful life of 20 years. Krov declared and paid a dividend of $16 and reported net income of $75 for its year ended December 31, 2017. Prepare Montys 2017 entries to record all transactions and events related to the investment in its associate. Assume that Monty is a publicly accountable enterprise that applies IFRS.