On January 1, 2021 Pure Company acquired 30 percent of the common stock of Sure Corporation for $240,000, at underlying book value.

For the same year, Sure reported net income of $12,000. It paid $3,000 dividends during the year.

At December 31, 2021, Pure determined the fair value of the shares of Sure to be $239,500.

a. Give all journal entries recorded by Pure with respect to the Investment in Sure assuming Pure carries securities at fair value method. (35 points)