7) ABC purchased 30% of XYZ Company on 4-1-21 for $8 million (50,000 SHARES) XYZ paid a $5 per share dividend on 7-1-21 and reported net Income of $3 million on 12-31-21. ABC sold 50% of its investment in XYZ for $6 million on 3-1-22 REQUIRED: PREPARE the journal Entries for XYZ on 4-1-21, 7-1-21, 12-31-21, and 3-1-22