Question 3\ On January 1, 2023, your company acquires 10,000 shares of Investee Business Limited (IBL),\ representing 41% of the shares of IBL, for $202,000. As part of that investment, your company is\ entitled to appoint one director to the four-member Board of Directors.\ For the year ended December 31, 2023, IBL earns $400,000 of profit (net income) and no other\ comprehensive income.\ Also, on December 31, 2023, IBL declares and pays a dividend of $88,000 to all shareholders.\ REQUIRED\ 1. Prepare journal entries for the following dates:\ (a) January 1, 2023; and\ (b) December 31, 2023.\ 2. What should be the ending balance of the Investment in IBL account on the balance sheet as of\ January 1, 2024?