10. At the beginning of Year One, Current Properties paid $1,000,000 for 25 percent of the shares of Nealy Enterprises. Current immediately begins to exert significant influence over the operating decisions of Nealy. a. Nealy reported earnings of $400,000 during Year One. Record the appropriate journal entry for Current. b. Nealy paid a total cash dividend of $50,000 during October of Year One. Record the appropriate journal entry for Current when the company receives this dividend. c. At the end of Year One, what amount does Current report on its balance sheet as its investment in Nealy? What does Current report on its income statement as its investment income from Nealy? d. Nealy reported earnings of $440,000 during Year Two. Nealy paid dividends of $60,000 during Year Two. What is the balance of the Investment in Nealy at the end of Year Two? e. At the end of Year Two, Current sells its entire investment in Nealy for $1,200,000 in cash. Record the appropriate journal entry for Current