On January 1, 2016, Tiger Company purchased 6,720 shares of Eagle Corporation's common stock when Eagle had 22,400 shares outstanding. On that date, the following information pertained to Eagle: Eagle Corporation Balance Sheet January 1, 2016 Book Value Fair Value 2 Depreciable assets (remaining life, 8 years) $620,000.00 $600,000.00 290,000.00 Other non-depreciable assets 300,000.00 Total $890,000.00 $920,000.00 Liabilities $300,000.00 $330,000.00 Shareholders' equity 590,000.00 Total $890,000.00 During 2016, Eagle earned net income of $120,000 and paid total dividends of $48,000. Required: Prepare the journal entries of Tiger related to its share of Eagle's net income and dividends in 2016. Prepare the journal entries of Tiger on December 31 related to its share of Eagle's net income and receipt of dividends in 2016. Additional instructions PAGE 1 GENERAL JOURNAL DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT