! 6 Part 2 of 2 Required information [The following information applies to the questions displayed below.] Surge Corporation had outstanding 120,000 shares of no-par common stock. On January 10 of the current year, Crash Company purchased a block of Surge Company's shares in the open market at $23 per share for long-term investment purposes. At the end of the current year, Surge reported net income of $283,000 and cash dividends of $0.50 per share. At December 31 of the current year, Surge stock was selling at $25 per share. 10 points eBook Print 2-a. Prepare the journal entries for Crash Company at the dates indicated assuming 18,000 shares of Surge Corporation were purchased. Assume the investment will be held long term. 2-b. Prepare the journal entries for Crash Company at the dates indicated assuming 42,000 shares of Surge Corporation were purchased. Assume the investment will be held long term. 3-a. Show how the long-term investments should be reported on the current year's balance sheet. 3-b. Show how the long-term investments should be reported on the current year's income statement.