Stellar Inc acquired $121,000$ common shares, which is $25\%$ of the outstanding common shares, of Tahiti Ltd$.$ on January $1,2023$ for

$$719,950.$ At the time of purchase, Tahiti Ltd$\text{'}$s depreciable assets were undervalued by $$29,600.$ The depreciable assets had a

remaining useful life of $5$ years with no salvage value. Tahiti Ltd$.$ declared and paid a cash dividend of $$0\mathrm{.}35$ per share on July $31,2023.$

Tahiti Ltd$.$ reported $$1\mathrm{.}2$ million as net income on December $31,2023$ for the year ending on this date. Assume that Stellar Inc. is in a

position to exercise significant influence over Tahiti Ltd$,$ and that Stellar follows IFRS

Prepare all the journal entries for $2023$ in the books of Stellar Inc. relating to above transactions. $($Credit account titles are

automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in

the problem. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. List all debit entries

before credit entries.$)$

Investment in Associate

Cash

Cash

Investment in Associate

Investment in Associate

Investment Income or Loss

$($To record investment income$)$

Investment Income or Loss

Investment in Associate

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

Calculate the balance in Stellar's "Investment in Tahiti: account at December $31,2023."$