8. Prepare the journal entries for the following transactions for Batson Co. (a) Batson Co. purchased 1,200 shares of the total of 100,000 outstanding shares of Michael Corp. stock for S20.75 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. (b) (c) 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 S1 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. (b) (c) (d) (e) (f)