On 30 June 20X2, King Ltd. purchased 29,000 shares of Prince Inc. for $69,600 plus $2,900 in commission. In 20X2, the company received a $1,450 of dividends, and the shares had a fair value of $81,200 at the end of the year. In 20X3, there were no dividends and the shares were sold for $98,600 less a $1,160 commission. Required: 1. Prepare journal entries for 20X2 and 20X3: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. Assuming King reports under ASPE and has chosen the cost method.

• Record the investment made in Prince Inc.

• Record the dividend income.

• Record the sale of investment.

b. Assuming King reports under IFRS and classified the investment as fair-value-through-profit-or-loss.

• Record the Purchase of Investment.

• Record the Investment Revenue.

• Record the Holding Gain/Loss.

• Record the Sale of Investment.