On January 1, 2018, Shane Corporation acquired 30 percent (13,000 shares) of Matthews Services Inc. common stock for $1,300,000 as a long-term investment. Data from Matthews's 2018 financial statements include the following: Net Income $330,000 Less cash dividends paid 160.924 Increase in retained earnings $170.000 The market value of Matthews Services Inc, common stock on December 31, 2018, was $98 per share. Shane does not have any other investments in financial assets. Prepare the necessary journal entries before closing the book for Shane's investment in Matthews Services Inc. common stock assuming Shane uses the following methods to account for its investment in Matthews Services: Id) Classified as financial assets at FVTOC - Equity because Shane Corporation made an irrevocable election to measure the equity investment as FVTOCI. The equity method