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10 points EQUITY INVESTMENTS 3 journal entries 24 25 PROBLEM 7 26 27 28 29 30 31 32 HHH SOFA SO GOOD 133 300,000 1-Jan 134 135 136 137 138 139 140 141 Sofa So Good bought 40% of the outstanding stock of Baker Corp. paying Sofa So Good has significant influence over Baker Corp. As of December 31, Baker Corp. had declared and paid cash dividends of Baker Corp's reported net income for the year was 31-Dec 10,000 60,000 Prepare the journal entries for Sofa So Good that are needed on January 1 and December 31