Alvarez Krisp Donuts, Inc. acquired 30% of the voting common shares of Smith Bakers Corporation on January 1, 2022, at a total cost of $2,532,000. At acquisition, the reported book value of Smith Bakers' net assets equaled its fair value. This investment allows Alvarez to exert significant influence over Smith's operating and financing policies. At the end of 2022, Smith reported $769,700 in net income and declared and paid $122,680 in dividends for the period. At the end of 2023. Smith reported a net loss of $438.000. No dividends were declared in 2023. What journal entries should Alvarez record related to its investment in Smith Bakers? What is the amount of the investment in Smith Bakers at December 31, 2022? At December 31, 2023? What journal entries should Alvarez record related to its investment in Smith Bakers? Begin by recording the journal entry required for the acquisition of the investment in Smith Bakers (Record debits first, then credits Exclude explanations from any journal entries) Account January 1, 2022 Next Alvarez Krisp Donuts, Inc. acquired 30% of the voting common shares of Smith Bakers Corporation on January 1, 2022, at a total cost of $2,532,000. At acquisition, the reported book value of Smith Bakers' net assets equaled its fair value. This investment allows Alvarez to exert significant influence over Smith's operating and financing policies. At the end of 2022, Smith reported $769,700 in net income and declared and paid $122,680 in dividends for the period. At the end of 2023, Smith reported a net loss of $438.000. No dividends were declared in 2023. What journal entries should Alvarez record related to its investment in Smith Bakers? What is the amount of the investment in Smith Bakers at December 31, 2022? At December 31, 2023? Now prepare the journal entry required to record the Alvarez's share of net income at the end of 2022 (Record debits first, then credits Exclude explanations from any journal entries. If no entry is required select "No Entry Required" on the first line of the journal entry table and leave all remaining cells in the table blank.) Account December 31, 2022 Next Alvarez Krisp Donuts, Inc. acquired 30% of the voting common shares of Smith Bakers Corporation on January 1, 2022, at a total cost of $2,532,000. At acquisition, the reported book value of Smith Bakers' net assets equaled its fair value. This investment allows Alvarez to exert significant influence over Smith's operating and financing policies. At the end of 2022. Smith reported $769,700 in net income and declared and paid $122,680 in dividends for the period. At the end of 2023, Smith reported a net loss of $438,000. No dividends were declared in 2023. What journal entries should Alvarez record related to its investment in Smith Bakers? What is the amount of the investment in Smith Bakers at December 31, 2022? At December 31, 2023? Next, prepare the journal entry required to record the receip of the cash dividends at the end of 2022 Account December 31, 2022 Now, prepare the journal entry required to record the Alvarez's share of net loss at the end of 2023 possible Alvarez Krisp Donuts, Inc. acquired 30% of the voting common shares of Smith Bakers Corporation on January 1, 2022, at a total cost of $2,532,000. At acquisition, the reported book value of Smith Bakers' net assets equaled its fair value. This investment allows Alvarez to exert significant influence over Smith's operating and financing policies. At the end of 2022. Smith reported $769,700 in net income and declared and paid $122.680 in dividends for the period. At the end of 2023, Smith reported a net loss of $438,000. No dividends were declared in 2023. What journal entries should Alvarez record related to its investment in Smith Bakers? What is the amount of the investment in Smith Bakers at December 31, 2022? At December 31, 2023? Now, prepare the journal entry required to record the Alvarez's share of net loss at the end of 2023 Account December 31, 2023 What is the amount of the investment in Smith Bakers at December 31, 2022? D Alvarez Krisp Donuts, Inc. acquired 30% of the voting common shares of Smith Bakers Corporation on January 1, 2022, at a total cost of $2,532,000. At acquisition, the reported book value of Smith Bakers' net assets equaled its fair value. This investment allows Alvarez to exert significant influence over Smith's operating and financing policies. At the end of 2022, Smith reported $769,700 in net income and declared and paid $122,680 in dividends for the period. At the end of 2023, Smith reported a net loss of $438.000 No dividends were declared in 2023. What journal entries should Alvarez record related to its investment in Smith Bakers? What is the amount of the investment in Smith Bakers at December 31, 2022? At December 31, 2023? What is the amount of the investment in Smith Bakers at December 31, 2022? The amount of the investment in Smith Bakers at December 31, 2022 is What is the amount of the investment in Smith Bakers at December 31, 2023? The amount of the investment in Smith Bakers at December 31, 2023 Is