JJJ Inc. purchased 35% of ABC Co. on January 4, 2013, for $280,000 when ABC's book value

Question:

JJJ Inc. purchased 35% of ABC Co. on January 4, 2013, for $280,000 when ABC's book value was $810,000. On that day, the fair value of the net assets of ABC equaled their book values with the following exceptions:
................................................................................. Book ............ Fair Value
Equipment ............................................................... $175,000 ........... $140,000
Buildings ................................................................ 40,000 ............... 65,000
The equipment has a remaining useful life of 10 years, and the building has a remaining useful life of 20 years. ABC reported the following related to operations for 2013 and 2014:
................................................................. Net Income (Loss) ................. Dividends
2013 ............................................................... $80,000 ....................... $15,000
2014 ................................................................ (10,000) ..................... 8,000
Instructions:
Provide the entries made by JJJ Inc. relating to its investment in ABC for the years 2013 and 2014?