On January 1, 2021, Toronto Inc. purchased 10% of the outstanding common shares of Ottawa Inc. for $300,000cash. Toronto did not have enough shares in Ottawa to significantly influence or control Ottawa. The fair value of Toronto's investment in Ottawa was $260,000 at December 31 , 2021. During 2021, Ottawa incurred a net loss of $150,000 and paid no dividend. On January 1, 2022, Toronto bought an additional 25\% of Ottawa's shares for $650,000cash. Toronto now had enough shares in Ottawa to exert significant influence over Ottawa. The acquisition differential for this purchase relates to equipment that had fair value of $45,000 more than its carrying value and a remaining useful life of 5 years. The following are summarized income statements for the two companies for the year ended December 31, 2022: Ottawa paid a dividend of $10,000 on December 31,2022. Required: Prepare ALL the journal entries that Toronto Inc. should make during the year for 2021 and 2022 with respect to its investment in Ottawa