On January 3, 2017, Pina Colada Limited purchased 1,910 (19%) of the common shares of Sonja Corp. for $329,840. The following information is provided about the identifiable assets and liabilities of Sonja at the date of acquisition:

		Carrying Amount		Fair Value
Assets not subject to depreciation		$504,000		$504,000
Assets subject to depreciation (10 years remaining)		814,000		1,044,000
Total identifiable assets		1,318,000		1,548,000
Liabilities		82,000		82,000

During 2017, Sonja reported the following information on its statement of comprehensive income:

Income before discontinued operations		$172,000
Discontinued operations (net of tax)		(57,400	)
Net income and comprehensive income		114,600
Dividends declared and paid by Sonja, November 15, 2017		72,000

Assume that the 19% interest is sufficient to make Sonja an associate of Pina Colada, and that Pina Colada is required to apply IFRS for its financial reporting. The fair value of Sonjas shares at December 31, 2017, is $152 per share.

Prepare the journal entry to record Pina Coladas purchase of the Sonja shares on January 3, 2017. (Hint: Any unexplained payment represents unrecognized goodwill of Sonja.)

Prepare all necessary journal entries associated with Pina Coladas investment in Sonja for 2017. Depreciable assets are depreciated on a straight-line basis.(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.)