The Trendy Clothing Corporation reported the following transactions for the year 2019:

Jan.1Purchased 35% of the common shares of Cool Hoodies Corporation for $550,000.

This is a long-term investment giving Trendy Clothing significant influence over the operations of Cool Hoodies.

Sept. 30Received a $34,000 dividend on the Cool Hoodies Corporation stock.

Dec. 31Cool Hoodies Corporation reported net income of $167,500 for the year ended December 31, 2019.

Dec. 31Trendy Clothing sold 50% of the Cool Hoodies shares for $300,000.

Prepare journal entries to record all the above events for the Trendy Clothing Corporation.