On March 31, 2021, Chow Brothers, Inc., bought 10% of KT Manufacturing's capital stock for $50 million. KT's net income for the year ended December 31,2021 , was $80 million. The fair value of the shares held by Chow was $35 million at December 31,2021 . KT did not declare or pay a dividend during 2021 . Required: 1. Prepare all appropriate journal entries related to the investment during 2021 . 2. Assume that Chow sold the stock on January 20, 2022, for $30 million. Prepare the journal entries to record the sale.