Condition #$1$:

O'Brien Inc. acquired $15\%$ of the $220,000$ shares of common stock of Fletcher Air at a total cost of $$13$ per share on February $17,2025.$ On July $31,$ Fletcher Air declared and paid $$72,400$ cash dividends to all stockholders. On December $31,$ Fletcher Air reported net income of $$146,900$ for the year. At December $31,$ the market price of Fletcher Air was $$12$ per share.

Condition # :

Johnson Corporation obtained significant influence over Roybark Inc. by buying $40\%$ of Roybark's $130,600$ outstanding shares of common stock at a total cost of $$7$ per share on January $1,2025.$ On May $19,$ Roybark Inc. declared and paid cash dividends of $$41,300$ to all stockholders. On December $31,$ Roybark Inc. reported a net income of $$87,600$ for the year.

Required: Prepare all necessary journal entries in $2025$ for Condition #$1.$ If $"$No Entry" is needed, please indicate $"$No Entry". Round all values to the nearest dollar.

Required: Prepare all necessary journal entries in $2025$ for Condition #$2.$ If $"$No Entry" is needed, please indicate $"$No Entry".

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