127 Debit 128 Date Account Title 29 SOFA 30 SO GOOD 31 32 33 34 35 1-Jan Sofa So Good bought 40% of the outstanding stock of Baker Corp. paying 300,000 16 Sofa So Good has significant influence over Baker Corp. 31-Dec As of December 31, Baker Corp. had declared and paid cash dividends of 10,000 Baker Corp's reported net income for the year was 60,000 Prepare the journal entries for Sofa So Good that are needed on January 1 and December 31. OPTIONAL ADDITIONAL 2 POINTS Compute the ending balance for this stock investment