On January 1, 2020, Jolley Corporation purchased 80,000 shares of Tige Company common stock for $800,000, giving Jolley 25 percont ownership and the ability to apply significant influence over Tige. On that date, the book value of Tige was $1,950,000 A building with a carrying value of $380,000 was worth 5520.000 The building had a remaining life of ten years. Tige owned a trademark valued at $200,000 over cost that was to be amortured over 3 years Tigo reported net income of $450,000 during 2020 and declared and paid dividends of $170,000 on January 1, 2021, Jolley Corp. srls 40,000 shares of this investment for S14 per sharo Required: a) Prepare all of Jolley's journal entries for 2020 in relation to its investment in Tigo Co. b) Prepare the Jolley's journal entry on January 1, 2021 to record the sale of the 40,000 shares