On 1/1/20, Fluffy Inc. owns 100,000 (25%) of Shadow Inc. and the balance of the investment account on Fluffy’s books is $250,000. On October 1st, 2020, Fluffy sells 20,000 shares to Chance for $5 per share. After the sale, Fluffy’s ownership drops to 20%, but Fluffy can still significantly influence Shadow Inc. During 2020, Shadow reports $480,000 of net income, earned equally throughout the year. Annual amortization associated with the investment is $36,000. In November 2020, Shadow sold goods costing $60,000 to Fluffy for $100,000. On 12/31/20, Fluffy still has $30,000 in ending inventory from this intra-entity transfer. Record all journal entries for 2020.