5) Assumption: On May 18, XXX0; RRR Corporation acquired 5% of 400,00 common shares of SSS Corporation. The cost per share was $6. On August 30, XXX0; SSS Corporation declared and paid $75,000 in dividends. On December 31,XXX0; SSS Corporation reported net income of $244,000. Actions to take: 1. Prepare the Journal Entry for the acquisition. 2. Prepare the Journal Entry for the dividend. 3. Prepare the Journal Entry for the participation. Determine the Net Income participation. Explain your calculations