At a total cost of $6,290,000, Hentera Corporation acquired 161,000 shares of Tran Corp. common stock as a long-ferm investment. Tran Corp. has 700,000 shares of common stock outstanding, including the shares acquired by Herrera Corporation. Required: a. Journalize the entries by Herrera Comoration to record the following information on December 31 ; 1. Tran Corp reports net income or $753,000 for the current period. 2. A cash avidend of 50.40 per common share is paid by tran Corp during the current period: b. Why is the equily method appropriate for the Tan Carp. investment? 'Refer to the chart of accounts for the exact wording of the account tates CNOWjoumals do not use lhes for joumal explanasions. Every line on a joumal page is used for debit or credit entries. CNOW joumals wal automaticaly indent a credit enty when a creair amount is entered Do not round your intermediate caloulations. When required, round final answers to the nearest dollar