On January 1, 2022, Low Corporation acquired 48,000 common shares of Tech Company for $60 each. At the time, Tech had 1,000,000 common shares outstanding. The investment was classified as FV-NI. During 2022, Tech reported net income of $1,000,000 and did not declare or pay dividends. At the end of 2022, the fair value of Techs shares was $70 per share.

On January 1, 2023, Low Corporation acquired another 372,000 common shares of Tech Company for $70 each. The book values of Techs net assets were equal to fair values except for specialized equipment, which was understated by $40,000. The equipment had an estimated remaining life of 10 years. During 2023, Tech reported net income of $830,000 and paid dividends of $160,000. At December 31, 2023, the fair value of Techs shares was $105 per share.

On January 1, 2024, Low Corporation acquired another 120,000 common shares of Tech Company for $105 per share. The book values of Techs net assets were equal to fair values except for specialized equipment, which was now understated by $34,200 and had an estimated remaining useful life of 9 years. During 2024, Tech Company reported a net income of $900,000 and paid dividends of $220,000. At December 31, 2024, the fair value of Techs shares was $110 per share.

On January 31, 2025, Low Corporation sold 100,000 shares of Tech Company for $90 per share

Requirement:

Prepare the yearly journal entries on the books of Low Corporation to record the investment in Tech for the 2022-2024 fiscal years and the 2025 sale of the shares in Tech