Benton Corporation acquired 25% of the common shares of Sharp Inc. on January 1, 2022, by paying $1,938,000 for 68,400 shares. Both companies are publicly-traded companies. Sharp declared and paid a $0.50 per share cash dividend on June 30 and again on December 31, 2022. Sharp reported net income of $912,000 for the year. At December 31, the fair value of the Sharp shares was $29 per share. (a) Your answer is correct. Prepare the journal entries for Benton Corporation for 2022 assuming Benton cannot exercise significant influence over Sharp and decides to hold the shares as a trading investment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry"for the account titles and enter O for the amounts.) Debit Account Titles and Explanation Date Credit Jan. 1 Trading Investments 1,938,000 1,938,000 Cash June 30 34,200 v Cash 34,200 Dividend Income 34,200 Dec 31 Cash 34.200 Dividend Income (To record dividends.) 45,600 Dec. 31 Trading Investments 45,600 Unrealized Gain on Trading Investments (To record unrealized gain / loss on trading investments.) Prepare the journal entries for Benton Corporation for 2022 assuming Benton can exercise significant influence over Sharp. (Credit account tities are automatically indented when the amount is entered. Do not Indent manually. List all deblt entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Debit Credit Date Account Titles and Explanation (To record dividends.) DB