Radio Ltd acquired all the issued capital of Wave Ltd for cash consideration of $2.3 million (which includes payment for dividend entitlement). The fair value of the net assets of Wave Ltd at that date was $1.8 million as follows:

Share capital 1000 000

Retained earnings 800 000

Total equity 1800 000

After acquisition, Wave Ltd declares a dividend of $300 000 that is identified as being paid out of pre-acquisition profits. What consolidation journal entries would be required to prepare group accounts?