X purchased 40% of Y on January 1, 2019, for $400,000. Y paid dividends of $50,000 in each year. Y's income statements for 2019 and 2020 showed the following.

	2019	2020
Income (loss) before income taxes	$100,000	($60,000)
Income tax expense (recovery)	40,000	(15,000)
Net income (loss)	$60,000	($45,000)
Other comprehensive income (net of tax)	20,000	25,000
Comprehensive income (loss)	$80,000	($20,000)

At December 31, 2019, the fair value of the investment was $440,000 and on December 31, 2020, the fair value of the investment was $420,000.

Required:

Prepare X's journal entries for 2019 and 2020, assuming that this is a non-strategic investment and is accounted for at fair value through profit and loss (FVTPL).