On January 1, 2025, Waterway Corporation purchased 40% of the common shares of Wildhorse Company for $204,000. During the year, Wildhorse earned net income of $79,000 and paid dividends of $19,750. Prepare the entries for Waterway to record the purchase and any additional entries related to this investment in Wildhorse Company in 2025. (List all debit entries before credit entries. Credit account titles are automatically indented when 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.)