a. Lee, Inc. acquired 30% of Polk Corp.'s voting stock on January 1, 2017 for $100,000. Lees investment in Polk gives Lee the ability to exercise significant influence over Polks operating and financial policies. During 2017, Polk earned $40,000 of net income and paid dividends of $25,000 to its shareholders. The fair market value of Lees investment in Polk at December 31, 2017 is $110,000.

Required Prepare all 2017 journal entries for Lee related to this investment in Polk.