On January 1, 2024, Cullumber Company, a public company, purchased 40% of the common shares of Triple Titanium Inc. for $700,000. The remaining shares (60%) are held by the family members of the company's founder. Cullumber considers this a strategic investment and a critical step into developing consumer markets. Triple Titanium is currently a supplier to Cullumber. Cullumber placed two members on Triple Titanium's 10-person board of directors and the two members believe they have been influential on the board through the year. Cullumber and Triple Titanium both have December 31 year ends. During 2024, Triple Titanium reported profit of $320,000 and paid total dividends of $70,000. During 2025, Triple Titanium reports profit of $240,000 and pays total dividends of $70,000. Prepare the required journal entries related to these transactions on Cullumber's books. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.) (To record dividend received from associate.) (To record investment income from associate.)