Buffalo Corporation purchased for $316,000 a 30% interest in Murphy, Inc. This investment enables Buffalo to exert significant influence over Murphy. During the year, Murphy earned net income of $179,000 and paid dividends of $58,000. Prepare Buffalo's journal entries related to this investment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Equity Investments Cash (To record the purchase.) Equity Investments Unrealized Holding Gain or Loss - Equity (To record the net income.) Cash Equity Investments (To record the dividend.) Debit 316000 53700 17400 Credit 316000 53700 17400