On January 1, Poitras Lte, a public company, purchases 20% of Monty Corporation's common shares for $263,000 for strategic purposes. For the year ended December 31, Monty reports profit of $212,000 and pays a $15,000 cash dividend. The fair value of Poitras's investment in Monty at December 31 is $265,000. Prepare journal entries required assuming Poitras has significant influence over Monty. (Record entries in the order displayed in 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.)