Crane Company acquired 30% of the outstanding common stock of Grin old Inc. on January 1, 2017, by paying $1,570,800 for 56,100 shares Grinwold declared and paid a $0.58 per share cash dividend on June 30 and again on December 31,2017. Grinwold reported net income of $867,000 for the year. Your answer is partially correct. Prepare the journal entries for Crane Company for 2017, assuming Wellman cannot exercise significant influence over Grinwold. (Use the cost method.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Jan. 1 Stock Investments 1570800 Cash 1570800 June 30 Cash 32538 Stock Investments 32538 Dec. 31 Stock Investments 260100 Revenue from Stock Investments 260100