SheridanCosmetics acquired15% of the142,000shares of common stock of Nevins Fashion at a total cost of $15per share on March 18, 2020. On June 30, Nevins declared and paid a $56,900dividend. On December 31, Nevins reported net income of $112,900for the year. At December 31, the market price of Nevins Fashion was $17per share.

Prepare all the necessary journal entries for 2020 for Sheridan Cosmetics.