Prince corporation purchased 20 percent ownership of snow company on January 1, 2015, for $54,000 and paid cash. on that date, the book value of steams reported net assets was equal to the fair value of steams net assets. if prince uses the cost method to account for their investment in snow. net income and dividend payments of snow were 10,000 and 5,000 in 2015, and 20,000 and 22,000 in 2016. (SHOW WORK)

Required: Prepare the journal entries that would be recorded by prince in 2015 and 2016.