On January 3, 2021, Whispering Winds Inc. obtained significant influence over the operations of Ing Ltd. by buying 30% of Ing's 39,000 outstanding common shares, at a cost of $9.90 per share. The following events took place in 2021.

June 15Ing declared and paid a cash dividend of $40,950.December 31Ing reported net income of $74,100 for the year.

The fair value of the Ing shares at December 31, 2021 was $11.40 per share.

blem 16- Attempts: 3 of 3 used lem 16- (b) lem 16- Assume now that the investment in Ing's shares does not allow Whispering Winds Inc. to exercise significant influence over Ing; however, Whispering Winds does intend to hold it as a long-term strategic investment. Prepare the journal entries for Whispering Winds Inc. for the fiscal year ended December 31, 2021 assuming Whispering Winds management has designated the investment in lem 16- Ing Led. 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.) i-1 Date Account Titles and Explanation Debit Credit art Part Studystrategic investment. Prepare the journal entries for Whispering Winds Inc. Ing Ltd. as fair value through other comprehensive income. (Credit accou required, select "No Entry" for the account titles and enter 0 for the Date Account Titles and Explanation D V V Investment at FVTOCI OCI-Holding Gain or Loss Short-term Investment-Equity Short-Term Investments at FVTPL-Bonds Long-term Investments at FVTOCI-Bonds Loss on Sale of FVTPL Dividend Revenue Investment in Associate Cash Income from Investment in Associate