Presented below are two independent situations. 1. 2. Ivanhoe Cosmetics acquired 15% of the 255,000 ordinary shares of Racine Fashion at a total cost of 13 per share on March 18, 2020. On June 30, Racine declared and paid a 69,100 dividend. On December 31, Racine reported net income of 124,100 for the year. At December 31, the market price of Racine Fashion was 15 per share. The shares are classified as non-trading. Tamarisk Ltd. obtained significant influence over Nowak Industries by buying 30% of Nowak's 21,300 outstanding ordinary shares at a total cost of 8 per share on January 1, 2020. On June 15, Nowak declared and paid a cash dividend of 31,700. On December 31, Nowak reported a net income of 86.300 for the year. Prepare all the necessary journal entries for 2020 for (a) Ivanhoe Cosmetics and (b) Tamarisk Ltd. (Credit account titles are automatically Indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No entry" for the account titles and enter O for the amounts.) 2020 Date Account Titles and Explanation (a) Mar. 18 Share Investments Cashi Debit Credit Date Account Titles and Explanation Debit Credit 2020 (a) Mar. 18 Share Investments (b) June 30 Dec. 31 Jan. 1 > > June 15 > Cash Cash Dividend Revenue Fair Value Adjustment-Trading Unrealized Gain or Loss-Income Share Investments Cash Cash Share Investments. Dec. 31 V Share Investments Revenue from Share Investments