Plethora Co bought a 25% shareholding on 31 December 20X8 in Sandown Co at a cost of $42,000. During the year to 31 December 20X9 Sandown Co made a profit before tax of $78,000 and the taxation charge on the year's profits was $18,000. A dividend of $8,000 was paid on 31 December out of these profits.

Required

Calculate the entries for the associate which would appear in the consolidated accounts of the Plethora

group, in accordance with the requirements of IAS 28.