$1$ The following events are for King Investment Inc:

$2023$

Feb. $25$ Purchased $185,720$ shares of Jack Inc. common shares for $$168,860($including transaction fees of $$50.$ Jack has $928,600$ common shares outstanding and has acknowledged the fact that its policies will be significantly influenced by King.

oct. $1$ Jack declared and paid a cash dividend of $$0\mathrm{.}50$ per share.

Dec. $31$ Jack announced that profit for the year amounted to $$689,070.2024$

April $1$ Jack declared and paid a cash dividend of $$0\mathrm{.}30$ per share.

Dec. $31$ Jack announced that profit for the year amounted to $$789,710.$

$31$ King sold $80,580$ shares $of$ Jack for $$129,150.$

Required:

Prepare general journal entries to record each transaction. $($Round per share calculations to $2$ decimal places. Round your final answers to the nearest dollar.$)$

Journal entry worksheet

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$6$

Record the purchase of investment.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$Feb $25,2023,,,]]$