On January 3, 2024, Blue Spruce Inc. obtained significant influence over the operations of Ing Ltd. by buying 40\% of Ing's 41,000 outstanding common shares, at a cost of $10.10 per share. The following events took place in 2024. June 15 Ing declared and paid a cash dividend of $47,150. December 31 Ing reported net income of $71,500 for the year. The fair value of the Ing shares at December 31,2024 , was $11.60 per share. Assume that the investment in Ing's shares does not allow Blue Spruce Inc. to exercise significant influence over Ing; however, Blue Spruce does intend to hold it as a long-term strategic investment. Prepare the journal entries for Blue Spruce Inc. for the fiscal year ended December 31, 2024, assuming Blue Spruce's management has designated the investment in Ing Ltd. as fair value through other comprehensive income. (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.)