On January 1, 2023, Hill View Furniture purchased 25% of Sunny Upholstery, Inc. The stock purchase will allow Hill View to have significant influence over Sunny Upholstery. Hill View paid $500,000 cash for the Sunny Upholstery stock. On January 1, 2023, Sunny Upholstery's book value was $1,500,000. Sunny Upholstery's buildings are worth $200,000 more than book value and equipment was worth $100,000 more than book value. On August 1, 2023, Sunny Upholstery paid a dividend of $100,000 to shareholders. At December 31, 2023, Sunny Upholstery reported a Net Loss of $50,000. The remaining useful life of Sunny Upholstery's buildings is 15 years, and the remaining useful life of equipment is 5 years.

REQUIRED: Prepare the following entries for Hill View Furniture. 1-1 Prepare the journal entry to record the purchase of Sunny Upholstery stock. 1-2 Prepare the journal entry to record the dividend receipt on August 1, 2023. 1-3 Prepare all 2023 year-end journal entries.