Treasure Co. acquired 35% of the 3,000,000 shares of common stock of Plush Co. at a cost of $7.50 per share on January 1, 2014. Plush co. declared and paid a $0.3 cash dividend per share and reported net profit of $315,000 for the year. On December 31, 2014, Treasure sold these shares at a market price of $8.70 per share.

Required:

Prepare all appropriate journal entries related to the investment during 2014.