Sunshine Inc. has the following transactions pertaining to the common stock.

Jan. 1	Bought 40% of Sealand 60,000 outstanding shares of common stock at a cost of $12 per share, obtaining significant influence over Sealand Corp
April 15	Sealand declared and paid a cash dividend of $45,000.
May18	Acquired 5% of the 400,000 shares of common stock of Bluewater Corp. at a total cost of $6 per share
June 1	Purchased 500 shares (2% ownership) of Young Company common stock for $30 per share plus brokerage fees of $400.
July 1	Sold 100 shares of Young stock for $3,300, less a $50 brokerage fee.
Aug.30	Bluewater declared and paid a $75,000 dividend.
Oct.1	Received a dividend of $1.25 per share of Young Company.
Dec.31	Bluewater Corp. reported net income of $244,000 for the year
Dec.31	Sealand reported net income of $120,000 for the year

At December 31, the market price of Bluewater Corp was $13 per share and the Young Company was $ 25. The stock is classified as trading securities

Required: Prepare the journal entries for Sunshine Inc.for 2020