On January 3, 2021, Monty Inc. obtained significant influence over the operations of Ing Ltd. by buying 30% of Ings 31,000outstanding common shares, at a cost of $9.10 per share. The following events took place in 2021.

June 15		Ing declared and paid a cash dividend of $34,100.
December 31		Ing reported net income of $84,500 for the year.

The fair value of the Ing shares at December 31, 2021 was $10.60 per share.

Prepare the journal entries for Monty Inc. for the fiscal year ended December 31, 2021. (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.)

Date	Account Titles and Explanation	Debit	Credit

Assume now that the investment in Ings shares does not allow Monty Inc. to exercise significant influence over Ing; however, Monty does intend to hold it as a long-term strategic investment. Prepare the journal entries for Monty Inc. for the fiscal year ended December 31, 2021 assuming Monty management has designated the investment in Ing Ltd. as fair value through other comprehensive income. (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.)

Date	Account Titles and Explanation	Debit	Credit