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As a long term investment at the beginning of the 2018 fiscal year, Florists International purchased 20% of Nursery Supplies nes 2 million shares for

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As a long term investment at the beginning of the 2018 fiscal year, Florists International purchased 20% of Nursery Supplies nes 2 million shares for $73 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 $35 million and distributed cash dividends of $1.25 per share. At the end of the year, the fair value of the shares is $69 million. Required: Prepare the appropriate journal entries from the purchase through the end of the year (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).) View transaction list Journal entry worksheet Record the investment in Nursery Supplies shares debits before credts Note: Enter debits before credits Event General Journal Debit Credit

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