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As a long-term investment at the beginning of the 2024 fiscal year, Florists International purchased 25% of Nursery Supplles Incorporated's 8 million shares for $62

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As a long-term investment at the beginning of the 2024 fiscal year, Florists International purchased 25% of Nursery Supplles Incorporated's 8 million shares for $62 million. The fair value and book value of the shares were the same at that time. During the yea Nursery Supplies earned net Income of $48 million and distributed cash dividends of $2.50 per share. At the end of the year, the fair value of the shares is $58 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 answe

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