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As a long-term investment at the beginning of the 2024 fiscal year, Florists International purchased 30 of Nursery Supplies Incorporated's 20 million shares for (
As a long-term investment at the beginning of the 2024 fiscal year, Florists International purchased \30 of Nursery Supplies Incorporated's 20 million shares for \\( \\$ 63 \\) 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 \\( \\$ 1.00 \\) per share. At the end of the year, the fair value of the shares is \\( \\$ 59 \\) 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). Journal entry worksheet 4 Record the investment in Nursery Supplies shares. Note: Enter debits before credits. View transaction list 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 : \\( = \\) journal entry has been entered
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