On January 1, Poitras Lte, a public company, purchases 20% of Blue Corporation's common shares for $256,000 for strategic purposes. For the year ended December 31, Blue reports profit of $217,000 and pays a $14,000 cash dividend. The fair value of Poitras's investment in Blue at December 31 is $279,000. Prepare journal entries required assuming Poitras has significant influence over Blue. (Record entries in the order displayed in the problem statement. 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.)