On January 1, 2019, 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, 2019 Book Value Fair Value 2 Depreciable assets (remaining life, 8 years) $600,000.00 $620,000.00 Other non-depreciable assets 290,000.00 300,000.00 Total $890,000.00 $920,000.00 5 Liabilities $300,000.00 $330,000.00 6 Shareholders' equity 590,000.00 Total $890,000.00 During 2019, 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 2019. Chart of Accounts General Ledger ASSETS REVENUE 111 Cash 411 Sales Revenue 114 Investment in Available-for-Sale Securities 423 Investment Income 119 Allowance for Change in Fair Value of Investment 431 Interest Income 121 Accounts Receivable 141 Inventory EXPENSES 152 Prepaid Insurance 500 Cost of Goods Sold 181 Equipment 511 Insurance Expense 189 Accumulated Depreciation 512 Utilities Expense 191 Investment in Held-to-Maturity Debt Securities 521 Salaries Expense 192 Investment in Stock: Eagle Corporation 532 Bad Debt Expense 540 Interest Expense LIABILITIES 541 Depreciation Expense 211 Accounts Payable 559 Miscellaneous Expenses 231 Salaries Payable 910 Income Tax Expense 250 Unearned Revenue 912 Unrealized Holding Gain/Loss 261 Income Taxes Payable 914 Loss on Impairment EQUITY 311 Common Stock 331 Retained Earnings Prepare the journal entries of Tiger on December 31 related to its share of Eagle's net income and receipt of dividends in 2019. General Journal Instructions PAGE 1 GENERAL JOURNAL DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT