On January $1,2024,$ Ruark Corporation acquired a $40$ percent interest in Batson, Inc., for

$$210,000.$ On that date, Batson$$s balance sheet disclosed net assets of $$360,000.$ During $2024,$

Batson reported net income of $80,000$ and paid cash dividends of $$25,000.$ Ruark sold inventory

costing $$30,000$ to Batson during $2024$ for $$40,000.$ Batson used all of this merchandise in its

operations during $2024.$

Prepare all of Ruark$$s $2024$ journal entries to apply the equity method to this investment.