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Prepare all relevant journal entries related to Sarasota's investment in Martz for $2023$ and $2024,$ assuming this is its only

investment and Sarasota exercises significant influence over its associates' policies. $($Credit account titles are automatically indented

when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the

amounts. List all debit entries before credit entries.$)$

Account Titles and Explanation

Credit

$2023$:

$200000$

$($To record investment purchase$)$

$($To record collection of dividend$)$

$($To record investment income$)$

$($To record amortization of fair value difference$)$

$2024$:

$($To record investment purchase$)$

$1$

$($Torecord collection of dividend$)$

$$

$\backslash$lceil

$]$

$1$

$11$On January $1,2023,$ Sarasota Corporation purchased $30\%$ of the common shares of Martz Limited for $$200,000.$ Martz shares are not

traded in an active market. The carrying amount of Martz's net assets was $$540,000$ on that date. Any excess of the purchase cost

over Sarasota's share of Martz's carrying amount is attributable to unrecorded intangibles with a $20-$year life. During the year, Martz

earned net income and comprehensive income of $$80,000$ and paid dividends of $$16,000.$ The investment in Martz had a fair value of

$$205,000$ at December $31,2023.$ During $2024,$ Martz incurred a net loss and comprehensive loss of $$85,000$ and paid no dividends. At

December $31,2024,$ the fair value of the investment was $$144,000$ and the recoverable amount was $$153,000.$ Assume that Sarasota

follows IFRS.