Falcon Corporation Purchased 15% of Shadowvale Enterprises for $1,500,000 on January

Falcon Corporation purchased 15% of Shadowvale Enterprises for $1,500,000 on January 1,Year 1.Shadowvale recognized $600,000 in net income and paid $100,000 in dividends to its shareholders.At December 31,Year 1,the market value of the Shadowvale investment had increased to $1,560,000.
Required:
1.Prepare the necessary journal entries to account for the investment in Shadowvale,assuming that Falcon accounts for the investment as an available for sale investment.
2.Prepare the necessary journal entries to account for the investment in Shadowvale,assuming that Falcon accounts for the investment using the fair value option.