8 1 On January 2, 2018, Sanborn Tobacco Inc. bought 5% of Jackson industry's capital stock for $98 million, Jackson Industry's net income for the year ended December 31, 2018, was $128 million. The fair value of the shares held by Sanborn was 5114 million at December 31, I 2018. During 2018, Jackson declared a dividend of $68 million Required: 1. Prepare all appropriate journal entries related to the investment during 2018, 2. Assume that Sanborn sold the stock on January 2, 2019 for $126 million. Prepare the Journal entries Sanborn would use to record the sole