3) The December 31, 2019, trial balances for Paul Corporation and its subsidiary Stuart are listed below. Paul Corporation Stuart Company Debit Credit Debit Credit Cash $ 8,000 $ 30,000 13,000 Receivables (net) 12,000 Inventory, 1/1 12,000 10,000 Investment in s 150,000 250,000 195,000 Plant and equipment (net) Land 100,000 80,000 Accounts payable $ 30,000 $ 10,000 100,000 Other liabilities 85,000 100,000 Common stock ($10 par) Retained earnings, 1/1 250,000 168,000 84,000 Dividends declared 15,000 20,000 Sales 132,000 91,000 Dividend income 15,000 Purchases 60,000 30,000 Other expenses 30,000 50,000 $680,000 $680.000 $385.000 $385.000 Inventory, 12/31 $15,000 $12,000 A. Prepare the journal entries found on Paul's books for 2019 To record P's share of S's dividends 3) The December 31, 2019, trial balances for Paul Corporation and its subsidiary Stuart are listed below. Paul Corporation Stuart Company Debit Credit Debit Credit Cash $ 8,000 $ 30,000 13,000 Receivables (net) 12,000 Inventory, 1/1 12,000 10,000 Investment in s 150,000 250,000 195,000 Plant and equipment (net) Land 100,000 80,000 Accounts payable $ 30,000 $ 10,000 100,000 Other liabilities 85,000 100,000 Common stock ($10 par) Retained earnings, 1/1 250,000 168,000 84,000 Dividends declared 15,000 20,000 Sales 132,000 91,000 Dividend income 15,000 Purchases 60,000 30,000 Other expenses 30,000 50,000 $680,000 $680.000 $385.000 $385.000 Inventory, 12/31 $15,000 $12,000 A. Prepare the journal entries found on Paul's books for 2019 To record P's share of S's dividends