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Condition # 1 : O'Brien Inc. acquired 1 5 % of the 2 2 0 , 0 0 0 shares of common stock of Fletcher

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 #2:
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".
\table[[Reference:,Account Title:,Debit:,Credit:],[1/1/2025,type your answer...,type your answer...,type your answer....],[,type your answer...,type your answer...,],[5/19/2025,type your answer...,type your answer...,type your answer...]]
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