On December 31, 2018, Rose Corporation purchased 9,000 shares of Lupin Corp.'s common shares at $30 per share plus commission of $1,000.This is the first year in which the company invested in equity securities.

On December 15, 2019, Lupin Corp declared and paid a dividend of $0.80 per share.

On December 31, 2019, the year-end fair value per Lupin share was $32.

Then, on February 20, 2020, Rose sold its investment in Lupin common shares for $295,000 cash.

Instructions

necessary journal entries in regard to the investment in Lupin for 2020 assuming that Rose Corporation follows IFRS 9 and accounts for this investment using FV-OCI with no recycling. Rose's policy is to capitalize transaction costs on FV-OCI investments