8. Prepare the journal entries for the following transactions for Batson Co Batson Co. purchased 1,200 shares of the total of 100,000 outstanding shares of Michael Corp. stock for $20.75 per share plus a $70 commission. Michael's total earnings for the period are $84,000. Michael's paid a total of $40,000 in cash dividends to shareholders of record. (a) (b) (c) 9. Prepare the journal entries for the following transactions for Morgan Co. Morgan Co. purchased 32,000 shares of the total of 100,000 outstanding shares of Gordon Corp. stock for $10 per share plus a (a) 9 (b) (c) $400 commission. Gordon Corp.'s total earnings for the period are $80,000. Gordon Corp. paid a total of $45,000 in cash dividends. 10. Present entries to record the following selected transactions of Masterson Co. (a) Purchased 600 shares of the 100,000 shares outstanding S10 par common shares of Dankin Corporation for $5,100 Purchased 3,500 shares of the 10,000 shares no par common shares of Ramon Co. for $45,700. The investment was accounted for by the equity method. Received a cash dividend of SI per share on the Dankin Corporation stock acquired in (a). Received a cash dividend of $2 per share on the Ramon Co. stock acquired in (b). Sold 100 shares of the Dankin Corporation shares acquired in (a) for $2,100. Dankin Corporation reported net income of $30,000 and Ramon Company's reported net income was $50,000. 9 (b) (c) (d) (e) (D 11, Nicer Cornorationr