On January 1,Year 1,Froelich Corporation Purchased 5,500 Shares of SportTech

On January 1,Year 1,Froelich Corporation purchased 5,500 shares of SportTech Ltd.as a long-term investment for a total of $206,195.The 5,500 shares represented 30% of the outstanding shares of SportTech.At the end of Year 1,SportTech reported a loss of $66,000 for the year.In Year 2,Froelich had the following long-term investment transactions.Assume Froelich owns 25% of SportTech at December 31,Year 2.Prepare the journal entries to record the transactions for Year 2.