Current Attempt in Progress Pronghorn Inc. acquired 20% of the outstanding common stock of Theresa Kulikowski Inc. on December 31, 2020. The purchase price was $1,053,400 for 45,800 shares. Kulikowski Inc, declared and paid an $0.80 per share cash dividend on June 30 and on December 31, 2021. Kulikowski reported net income of $742,000 for 2021. The fair value of Kulikowski's stock was $26 per share at December 31, 2021. Assume that the security is a trading security. (a) Your answer is partially correct. Prepare the journal entries for Pronghorn Inc. for 2020 and 2021, assuming that Pronghorn 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 for the amounts.) Account Titles and Explanation Debit Credit Equity Investments 1053400 Cash 1053400 Cash 36640 Equity Investments 36640 Cash 36640 Equity Investments 36640 (To record dividend.) Equity Investments 146000 Investment Income 146000 (To record fair value.) e Textbook and Media List of Accounts