Assumption: On January 01, XXX0; DDD Corporation acquired 40% of 60,000 common stocks of NNN Corporation. The cost per share was $12. On April 15, XXX0; NNN Corporation declared and paid $45,000 cash in dividends. On December 31, XXX0; NNN Corporation reported net income of $120,000. Actions to take: 1. Prepare the Journal Entry for the acquisition. 2. Prepare the Journal Entry for the dividend. 3. Prepare the Journal Entry for the particpation. Determine the Net Income participation. Explain your calculations