As a long-term investment at the beginning of the 2018 fiscal year, Florists International purchased 20 % of Nursery Supplies Inc.'s 20 million shares for $69 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 $40 million and distributed cash dividends of $1.50 per share. At the end of the year, the fair value of the shares is $65 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 > 1 2 34 Record the investment in Nursery Supplies shares. Note: Enter debits before credits. Event General Journal Debit Credit View general journal Record entry Clear entry 11 of 15 Prev Next