1.) On January 1, 2021, Jimmer Corp. purchased 25% of Laetner Corp.s common stock for $2,000,000. Below is information about the book value and fair value of Laetners assets:

Required (Please put Dr in front of your debits and Cr in front of your credits):

a.) Record the journal entry Jimmer Corp. recorded when they purchased Laetners equity.

b.) Record the journal entries to account for Laetners income, dividends, and adjusting entries.

c.) Assume Laetner sold the asset for 2,200,000 on January 1, 2022. Record Jimmer Corp.s journal entry associated with the sale of Laetner Corp.s stock.