On January 1, 2017, Grouper Corporation purchased 40% of the common shares of River Company for $405,000. During the year, River earned net income of $118,000 and paid dividends of $39,000. Prepare the entries for Grouper to record the purchase and any additional entries related to this investment in River Company in 2017.

Aocount Titles and Explanation (To record purchase) (To record share of dividend) (To record share of net income) Debit Credit