4. Pizza Company purchased Salt Company common stock through open-market purchases as follows: Date 1/1/12 1/1/13 1/1/14 Acquired Shares 1,500 3,300 6,600 Cost $ 50,00 $ 90,000 $250,000 Salt Company had 12,000 shares of $20 par value common stock outstanding during the entire period. Salt had the following retained earnings balances on the relevant dates: January 1, 2012 January 1, 2013 January 1, 2014 December 31, 2014 $ 90,000 30,000 150,000 300,000 Salt Company declared no dividends in 2012 or 2013 but did declare $60,000 of dividends in 2014. Any difference between cost and book value is assigned to subsidiary land. Pizza uses the equity method to account for its investment in Salt. Required: A. Prepare the journal entries Pizza Company will make during 2013 and 2014 to account for its investment in Salt Company. B. Prepare workpaper eliminating entries necessary to prepare a consolidated statements workpaper on December 31, 2014