CC 1810 CHS 8 s ns 80 ated bal but not PROBLEM 4 2018, Giant Co. purchased the following investments for cash: Rock Co stock.. On 40,000 shs Boulder Co. stock.. Both Rock and Boulder 240,000 Company have 100,000 total common shares 9. During 2018, Rock and Boulder had the following information: Market Price Cash NET INCOME Dividends/share Per share @ 12/31/2018 $1.40/sh Rock Co. $100,000 $0.20/sh Boulder Co $350,000 S0.50/sh $6.50/sh 1. What type of investment is Rock Co.? What type of investment is Boulder Co.? 2. For the investment in Rock Co., prepare the journal entries necessary for the following transactions on Giant's books (journal paper provided on next page). A. Purchase of the Rock Co. shares on January 1, 2018. B. Dividends received from Rock Co. during 2018. C. Any adjustment for Net Income earned by Rock Co., if necessary, during 2018. D. Any adjustment for year-end market price of Rock Co., if necessary. 3. For the investment in Boulder Co., prepare the journal entries necessary for the following transactions on Giant's books Gournal paper provided on next page). A. Purchase of the Boulder Co. shares on January 1, 2018 B. Dividends received from Boulder Co. during 2018. C. Any adjustment for Net Income earned by Boulder Co., if necessary, during 2018. D. Any adjustment for year-end market price of Boulder Co., if necessary