Take Inc. invested $60,000 for its 20% share in Give Inc. on January 1, 20X1, by purchasing 10,000 shares of Give Inc. The following table provides pertinent details relating to Give Inc. for the next four years. Take Inc. has a December 31 year-end.

Take Inc. classified its investment in Give Inc. as a FVTOCI investment. On January 3, 20X5,

Take Inc. purchased 1,000 additional shares in Give Inc. and continued to classify the investment in Give Inc. as an FVTOCI investment. Each share of Give Inc. had a fair value of $4.80 on that date. Show the journal entries that Take Inc. has to make in relation to its investment in Give Inc. in 20X5.

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Share Price on December 31 Dividends Declared Year Income 20X1 $160,000 80,000 120,000 $140,000 110,000 100,000 80,000 $4.80 4.50 5.00 20X2 20X3 4.70 20X4 60,000