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As a long - term investment at the beginning of the 2 0 2 4 fiscal year, Florists International purchased 2 5 % of Nursery

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As a long-term investment at the beginning of the 2024 fiscal year, Florists International purchased 25% of Nursery Supplies
Incorporated's 16 million shares for $68 million. The fair value and book value of the shares were the same at that time. During the
year, Nursery Supplies earned net income of $52 million and distributed cash dividends of $0.75 per share. At the end of the year, the
fair value of the shares is $64 million.
Required:
Prepare the appropriate journal entries from the purchase through the end of the year.
Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers
in millions, (i.e.,10,000,000 should be entered as 10).
1 Record the investment in Nursery Supplies shares.
2 Record the investor's share of net income.
3 Record the cash dividends received from Nursery
Supplies shares.
4 Record fair value adjustment at year-end.
Note : 0 journal entry has been entered
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