P established a subsidiary, S, in Atlantis on 1/1/2020 where the currency is the . P invested 100,000 when the :$ rate was 5:1. During 2020 S earned 10,000, and paid a dividend of 2,000 on 12/1. In 2021 S earned 14,000, not including a loss of 3,000 recorded on 10/1/2021. and paid dividends of 3,000 on 12/1. Make all required journal entries in Ps books for 2020 and 2021 and post to T-Accounts: Investment, Equity Income, Accumulated Comprehensive Income, OCC not needed.

DATE	RATE :$
1/1/2020	5:1
12/1/2020	4.5:1
2020 Average	4.4:1
12/31/2020	4.2
10/1/2021	4.3
12/1/2021	4.6
2021 Average	4.7
12/31/2021	4.8