The following events are for Toronto Investment Inc.:

Required

Prepare general journal entries to record each transaction. Round per share calculations to two decimal places.

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2020 Jan. Purchased 18,000 shares of Quatro Inc. common shares for $156,900. Quatro has 90,000 common shares outstanding and has acknowledged the fact that its policies will be significantly influenced by Toronto. Quatro declared and paid a cash dividend of $2.60 per share. Quatro announced that profit for the year amounted to $650,000. 14 Ot. Dec. 31 2021 Quatro declared and paid a cash dividend of $2.70 per share. April Quatro announced that profit for the year amounted to $733,100. Dec. 31 Toronto sold 6,000 shares of Quatro for $104,320. 31