Current Attempt in Progress Grouper Inc. acquired 20% of the outstanding common stock of Theresa Kulikowski Inc. on December 31, 2020. The purchase price was $1,243,200 for 51,800 shares. Kulikowski Inc. declared and paid an $0.75 per share cash dividend on June 30 and on December 31, 2021. Kulikowski reported net income of $786,000 for 2021. The fair value of Kulikowski's stock was $27 per share at Decembem 31, 2021. (a) Your answer is correct. Prepare the journal entries for Grouper Inc. for 2020 and 2021, assuming that Grouper cannot exercise significant influence over Kulikowski. (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.) Date Account Titles and Explanation Dec. 31, 2020 Equity Investments Cash June 30, 2021 Cash Debit 1243200 38850 Credit