Bitnec Corporation acquired three separate investments at the beginning of the year. Information about each acquisition, the dividends declared and paid during the year, income, and year-end stock price, follows:
INITIAL INVESTMENT
	Purchased 50,000 shares of Lynch Corporation at $11 per share. This investment was made with the intent of near-term trading profits. Lynch Corporation has 5,000,000 shares outstanding.
	Purchased 10,000 shares of Graham Corporation at $20 per share. This investment was generally considered to be long-term with no particular plans for near-term trading. Graham Corporation has 2,000,000 shares outstanding.
	Purchased 40% of the shares of Buffet Corporation at $30 per share. This investment was generally considered to be long-term with plans to exert significant influence. Buffet Corporation has 1,500,000 shares outstanding.
DIVIDENDS
	Lynch Corporation declared and paid dividends of $0.50 per share.
	Graham Corporation declared and paid $2,000,000 in dividends.
	Buffet Corporation declared and paid dividends of $0.25 per share.
NET INCOME
	Lynch Corporation reported net income of $4,000,000 for the year.
	Graham Corporation reported net income of $7,000,000 for the year.
	Buffet Corporation reported net income of $1,200,000 for the year.
YEAR END STOCK PRICE
	Lynch Corporation's closing stock price at the end of the year was $13 per share.
	Graham Corporation's closing stock price at the end of the year was $15 per share.
	Buffet Corporation's closing stock price at the end of the year was $33 per share.
(a)	Prepare journal entries, as necessary, to account for the initial investment, dividend, and year-end stock price for the investment in Lynch Corporation.
(b)	Prepare journal entries, as necessary, to account for the initial investment, dividend and year-end stock price for the investment in Graham Corporation.
(c)	Prepare journal entries, as necessary, to account for the initial investment, dividend and year-end stock price for the investment in Buffet Corporation.