Pigeau Ltd. purchased 42,000 common shares of Lindsay Corporation for $1,000,000. During the year. Lindsay Corporation reported profit of $500,000 and paid dividends of $125,000. On December 31, Pigsav year end; Lindsay Corporation's common shares had a market value of $25 per share. Pigeau is a Canadia public company and where it has the choice, it reports gains and losses in other comprehensive income.

Situation B: Assume that the 42,000 shares represent a 25% interest in Lindsay Corporation which ovides Pigeau with significant influence over Lindsay and are accounted for as a long-term equity estment (7 marks).

**Prepare the journal entry to record the investment in Lindsay shares.**