#6 needs journal entry

Exercise 12-22 Equity Investments: Equity Method Note: If a journal entry is notrequired for a transaction, enter BLANKon the firstaccount line. Fizer Pharmaceutical paid $44,000,000 on January 2, 2021, for 1,700,000 shares of Carne Cosmetics common stock. The investmentrepresents a 30% interestin the net assets of Carne and gave Fizer the ability to exercise significantinfluence over Carne's operations 1 Date Account Credit Correct Debit 44,000,000 1/2/21 Investmentin Equity Securities Cash 44,000,000 Fizer received dividends of $1 per share on December 21, 2021 2 Credit Correct Date Account 12/21/21 Cash Investment in Equity Securities Debit 1,700,000 1,700,000 Carne reported netincome of$23,000,000 for the year ended December 31, 2021. 3 Credit Correct Date Account 12/31/21 Investmentin Equity Securities Investment Revenue Debit 6,900,000 6,900,000 The fair value of Carne's depreciable assets exceeded their book value by $ 16,000,000. These assets had an average remaining useful life of 8 years. 4 Credit Correct Date Account 12/31/21 InvestmentRevenue Investment in Equity Securities Debit 600,000 600,000 The fair value of Carne's common stock at December 31, 2021, was $15.10 per share. 5 Account Debit Credit Correct Date 12/31/21 BLANK Fizer sold HALF of the stock investmenton December 31, 2021 for $25,800,000. 6 Date Account Debit Credit 12/31/21