On January 1, 2013, Tiger Company purchased 6,720 shares of Eagle Corporation's common stock when Eagle had 22,400 shares outstanding. On that date, the following information pertained to Eagle:

During 2013, Eagle earned net income of $120,000 and paid total dividends of $48,000. Prepare the journal entries of Tiger related to its share of Eagle's net income and dividends in 2013.

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Balance Sheet Depreciable assets (remaining life, 8 years) Other non-depreciable assets Total Liabilities Shareholders' equity Total Book Value $600,000 290,000 Fair Value $620,000 300,000 $890,000 $920,000 $300,000 $330,000 590,000 $890,000