Shaw Company had the following activities in relation to its investments in 2016. The company follows IFRS with June 30 as its year-end. 1) On January 1, 2016, Shaw Company purchased 35,000 (or 35%) common shares from Tang Company for $859,950 for cash. 2) On March 31, 2016, Shaw Company's accountant received financial statements from Tang Company, which reported a net profit of $560,000 for the year ending February 28, 2016. 3) On April 30, 2016, Shaw Company received cash dividends from Tang Company of $2.00 per share. 4) On June 30, 2016, Tang Company's shares were traded at $25.25 per share. Create all necessary journal entries in the space below using the information above. 1 i- B