Trim Corporation acquired 100 percent of Round Corporations voting common stock on January 1, 20X2, for $402,000. At that date, the book values and fair values of Rounds assets and liabilities were equal. Round reported the following summarized balance sheet data:

Assets	$	713,000		Accounts Payable	$	109,000
				Bonds Payable		202,000
				Common Stock		115,000
				Retained Earnings		287,000
Total	$	713,000		Total	$	713,000

Give the journal entries recorded by Trim Corporation during 20X2 on its books if Trim accounts for its investment in Round using the equity method.

A. Record the initial investment in Round Corporation.

B. Record Trim Corp.'s 100% share of Round Corp.'s 20X2 income.

C. Record Trim Corp.'s 100% share of Round Corp.'s 20X2 dividend.

Give the consolidation entries needed at December 31, 20X2, to prepare consolidated financial statements

Round reported net income of $82,000 for 20X2 and paid dividends of $31,000.